Market continues weekly decline amid tariff worries; all sectors slide
The BSE-listed companies' market capitalization dropped by nearly 20 lakh crore during this week.
Market continues weekly decline amid tariff worries; all sectors slide
The Indian market widened the losing streak to the third week running that ending February 28 due to concerns of an escalating trade war following US president Donald Trump's latest remarks on tariffs.
This week was a rough one for the Nifty50 index dropped 671.2 point or 2.94 percent to end with 22,124.7 while the BSE Sensex declined 2,112.96 points or 2.80 percent to end at 73,198.1.
The BSE Large-cap Index plunged 3.4 percent. Polycab India, LTIMindtree, Jio Financial Services, REC, Indian Railway Finance Corporation dropped between 10 and 19 percent.
The index of small-cap stocks on the BSE fell 6 percent. EKI Energy Services, Precision Camshafts, Oriental Rail Infrastructure, KEI Industries, TBO Tek, Magellanic Cloud, R R Kabel, Suratwwala Business Group Sundaram-Clayton Reliance Infrastructure, Triveni Turbine, EPL, Quick Heal Technologies, Swelect Energy Systems, Sanghvi Movers, ASK Automotive, Salasar Techno Engineering, Paramount Communications, Religare Enterprises, Kitex Garments, Lloyds Engineering Works, Suraj Estate Developers in the range of 15 to 23 percent.
BSE Mid-cap Index declined 4.4 percent, aided by Oil India, Mphasis, LT Technology Services, New India Assurance Company, Rail Vikas Nigam, Indian Renewable Energy Development Agency, Suzlon Energy dropped 10 to 12 percent.
The Indian rupee fell by 80paise higher to 87.51 dollars on 28 February, compared to the closing on February 21 of 86.71.
All the indices of the sector finished in the red Slideshow index declined 7 percent, Nifty Realty index shed 5.5 percent, Nifty PSU Bank index dropped 5.3 percent, and Nifty Energy index fell 5 percent.
Foreign Institutional Investors (FIIs) have extended their sales as they sold equity worth Rs 22,011.38 crore this week's time and Domestic Institutional Investors (DII) bought shares worth Rs 22,252.17 crore. In the course of the month, FII sold equity worth the sum of 58,988.08 crore, whereas DII purchased equities worth 64,853.19 crore.
