Trump 2.0 jitters | Investors lose `7.52 lakh crore 

Indian equities lost heavily on Tuesday on persistent bear hammering, intensive volatility, across-the border sell-off, huge foreign fund outflows, depreciating rupee, followed by growing global trade war worries as consequences of Donald Trump’s second term, and US Fed rate cuts, making investors lose more than Rs 7 lakh crore

FPJ News Service mumbai

The 30-share BSE Sensex nosedived 1,235.08 points or 1.60 per cent on Tuesday to settle at 75,838.36 dragged by losses in ICICI Bank and Reliance Industries. During the day, the benchmark index plummeted 1,431.57 points or 1.85 per cent to hit an intraday low of 75,641.87.

The broader NSE Nifty plunged 320.10 points or 1.37 per cent to close at 23,024.65. In the intraday trade, the NSE Nifty plunged 367.9 points or 1.57 per cent to 22,976.85. This is the first time in seven months that the index has closed below the 76,000 mark.

Equities fell sharply on persistent bear hammering, intensive volatility, across-the border sell-off, huge foreign fund outflows, depreciating rupee, followed by growing global trade war worries as consequences of Donald Trump’s second term, and US Fed rate cuts, making investors lose more than Rs 7 lakh crores. In real terms, the market capitalisation of BSE-listed companies eroded by Rs 7,52,520.34 crore to Rs 4,24,07,205.81 crore (USD 4.90 trillion).

Foreign Institutional Investors offloaded equities worth Rs 5,920.28 crore on Tuesday. Among Sensex shares, Zomato, NTPC, Adani Ports, ICICI Bank, State Bank of India, Reliance Industries, Mahindra & Mahindra, Bajaj Finance, Tech Mahindra and Axis Bank were the major laggards.

The lower than expected recovery in the ongoing Q3 earnings, according to marketmen has also eroded the investor confidence.  In general, key sectors remained in red during the day. UltraTech Cement and HCL Technologies were the only gainers.  

European markets were trading higher on Tuesday. In Asian markets, Tokyo and Hong Kong ended higher, while Shanghai and Seoul settled on a flat note on Tuesday. US markets were closed on Monday on the occasion of Martin Luther King Jr Day.

Global oil benchmark Brent crude slipped 0.76 per cent to USD 79.54 a barrel. On Monday, the 30-share BSE Sensex jumped 454.11 points to settle at 77,073.44 and NSE Nifty climbed 141.55 points to close at 23,344.75.