.

follow-on-google-news

New Delhi, Jan 18 (PTI) Investors’ wealth on Tuesday tumbled by more than Rs 3.78 lakh crore as equities faced heavy selling pressure following weak global trends.

The 30-share BSE index tanked 554.05 points or 0.90 per cent to settle at 60,754.86.

Tracking weak trends, the market capitalisation of BSE-listed companies tumbled Rs 3,78,213.43 crore to Rs 2,76,24,224.28 crore.

Note: If you want to learn Candlesticks and Chart Trading from Scratch, here’s the best book available on Amazon! Get the book now!

The market capitalisation of BSE-listed firms had reached a lifetime high of Rs 2,80,02,437.71 crore on Monday.

“The weakness can be attributed to selling in the global markets after US 10-year bond yield moved above the 1.80 mark during the day,” according to Parth Nyati, Founder, Tradingo.

Maruti was the biggest drag in the Sensex pack, shedding over 4 per cent, followed by UltraTech Cement, Tech Mahindra, HCL Tech and Tata Steel.

The BSE midcap index fell 2.20 per cent while smallcap index declined 1.92 per cent.

“Surge in oil prices and FIIs turning net sellers also added volatility in the domestic market. Globally, markets witnessed selling pressure following a surge in US treasury yield amid rate hike worries while oil prices rose on supply tension owing to the drone attack on UAE,” Vinod Nair, Head of Research at Geojit Financial Services, said. PTI SUM MR MR