Mcap tumbles to Rs. 200.85 trn on BSE

Mumbai: After the market crashed on Monday following the renewed fears about GDP growth in Q1 of the current fiscal and possible lockdowns across India, the market capitalisation (mcap) on BSE fell to to Rs 2,00,85,806.37 crore, a net loss of Rs 8,77,435.5 crore.

The concerns over surging number of Covid-19 cases in India roiled the equity market, said a senior market analyst. The 30-share BSE benchmark index plunged 1,707.94 points or 3.44 per cent to close at 47,883.38. During the day, it nosedived 1,897.88 points to 47,693.44. IndusInd Bank was the biggest loser among the Sensex companies, declining 8.60 per cent, followed by Bajaj Finance, SBI, ONGC, Titan, M&M and Axis Bank.

Binod Modi, head (strategy) at Reliance Securities, said: "Domestic equities today reminded the blood bath of March 2020 as record rise in Covid-19 cases in the country and possibility of lockdowns in several states dented investors' sentiments."

Ajit Mishra, V-P (research) at Religare Broking Ltd, added that "Markets started the week on a feeble note and lost over three and a half per cent. The benchmark indices continued to plunge southwards due to rising Covid-19 cases, and the possibility of lockdown in various parts of the country. Selling pressure widened as the day progressed." All BSE sectoral indices closed with losses. Realty index declined 7.70 per cent, followed by industrials, metal, auto, power, finance. In the broader market, the BSE midcap and smallcap indices tumbled up to 5.32 per cent. On the BSE, shares of 2,477 companies closed in the red while 510 advanced and 174 remained unchanged.