Read more about Investors wealth tumbles over Rs 4.54 trillion as markets crash on Business Standard. The 30-share BSE benchmark index plummeted 1,449.03 points to 48,580.80 in morning trade
NEW DELHI: A record single-day jump in Covid-19 cases in the country clipped Dalal Street s wings on Monday, as bears dragged benchmark indices violently. Volatility indicator India VIX shot up amid selling across sectors.
Better-than-expected jobs data and economic recovery in the US are big positives, say analysts. However, back home, the fast-rising Covid-19 cases are a cause of concern.
Restriction of economic activity in many parts of the country might impact economic recovery, said an analyst.
“Macro numbers like record GST collections and auto sales numbers for March indicate a strong economic rebound. Q4 results will be very good and this can impart resilience to markets. How the Covid cases pan out, going forward, is a crucial factor, said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Investors off-loaded banking stocks on the bourses on Monday as record Covid-19 cases stirred fears of virus-induced restrictions across the country. Consequently, market participants panicked on concerns that derailment of economic activity may spark fresh round of non-performing assets (NPAs ) pile up. In the intra-day deals, the Nifty Bank index tumbled 1,493 points, or 4.4 per cent, to hit a low of 32,365 levels while the Nifty Private Bank and PSU Bank indices slipped 4.4 per cent and 5 per cent, respectively. In comparison, the benchmark Nifty50 index dropped over 300 points, or 2.2 per cent, to 14,535 levels by 10:50 am. Among individual stocks, IndusInd Bank plunged 6 per cent, while IDFC First Bank, SBI, Federal Bank, Bandhan Bank, and RBL Bank declined in the range of 4.6 per cent and 5 per cent. Shares of ICICI Bank, Axis Bank, PNB, HDFC Bank, and AU Small Finance Bank, meanwhile, slipped up to 4 per cent.
Investors wealth falls over Rs 4.54 lakh crore as Sensex crashes 1,449 points
The 30-share BSE benchmark index plummeted 1,449.03 points to 48,580.80 in morning trade
PTI | April 5, 2021 | Updated 12:59 IST
Investors wealth tumbled over Rs 4.54 lakh crore in morning trade on Monday as markets crashed amid a sharp spike in coronavirus cases in the country.
The 30-share BSE benchmark index plummeted 1,449.03 points to 48,580.80 in morning trade.
Following this, the market capitalisation of BSE-listed companies dived Rs 4,54,987.72 crore to Rs 2,02,71,414.07 crore.
From the 30-share pack, 27 companies were trading lower led by banking companies IndusInd Bank, Bajaj Finance, Bajaj Finserv, State Bank of India, Axis Bank and HDFC.
At ₹7.34-lakh cr, India Inc’s Re bond issues up 19% in FY21
April 05, 2021
Liquidity created by central bank helped meet funds demand as recovery sustained
Lifted by a wave of liquidity in a rebounding economy, India Inc raised ₹7.34-lakh crore through rupee bonds in FY21, up 19 per cent over the previous fiscal year despite the pandemic. Corporates had raised ₹6.75-lakh crore in FY20.
The biggest fund-raisers during the period were National Bank For Agriculture and Rural Development (₹67,865 crore), Housing Development Finance Corporation Ltd (₹49,843 crore), National Highways Authority of India (₹45,802.6 crore), Rural Electrification Corporation (₹45,193.2 crore) and Power Finance Corporation (₹40,967.6 crore).
“From the debt capital markets perspective, FY21 has been a good year as it started with a healthy volume and saw a growth in issuances despite the lockdown and the pandemic. As there been enough liquidity in the market, in spite of unusually heavy