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Market turmoil leaves investors poorer by ₹1.52 lakh cr in last 6 sessions: What’s next?

In the last six trading sessions, investors have lost more than 1.52 lakh crore due to heavy selling in metals, energy, and real estate stocks amid a bearish trend in Asian and European markets.

The 30-share BSE Sensex fell 398.18 points, or 0.69 percent, to 57,527.10 in volatile trading, with 24 constituents reporting losses. During trading, the Sensex reached a high of 58,066.40 and a low of 57,422.98.

The NSE Nifty dropped 131.85 points, or 0.77 percent, below the psychological level of 17,000 on the broader market. 41 of the index’s stocks ended in the red as it closed at 16,945.05.

has reduced investor wealth by Rs 1.52 lakh crore, from BSE market capitalization of 256.05 lakh crore on March 16 to 254.53 lakh crore on March 24.

“After the government passed the Finance Bill 2023 in the Lok Sabha, domestic stocks fell. STT on the sale of options and futures has increased as a result of the amendments. However, the increase’s specifics remain unclear. According to Siddharth Khemka, Head-Retail Research at Motilal Oswal Financial Services Ltd., “All sectors closed in the red with heavy selling in PSU Banks, Metals, and Oil & Gas.” The Bill is also proposed to eliminate indexation benefits for debt mutual funds. “Indian markets were closed once more last week due to a sharp decline in European markets and uncertainty regarding an increase in STT on F&O trades,” Khemka stated. Selling took place within the hour.

Bajaj Finserv, Tata Steel, RIL, HCL Tech, SBI, Larsen & Toubro, Mahindra & Mahindra, Axis Bank, and Titan were the other constituents of the Sensex that suffered the greatest losses, losing 3.81 percent.

Reliance Industries, a major index, fell as much as 1.96 percent for the second day in a row, triggering intense selling.

Wipro, Asian Paints, Infosys, Tech Mahindra, Power Grid, and Kotak Mahindra Bank were among the gainers.

“The first half was slow, but pressure in major indices changed the mood, and the Nifty index fell below the 17,000 mark.” The fall was widespread, with majors in metals, real estate, and energy feeling the most heat. Ajit Mishra, Vice President of Technical Research at Religare Broking Ltd., stated, “In contrast, the broader indices Underperformed and declined in the range of 1%-2%.”

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