Admin Reporter- POOJA1

Feb 23 2021


Bears take control: Sensex slips below 50,000, investors lose Rs 3.7 trn

Tuesday, 23 February 2021

The Indian markets fell for a fifth day on Monday as bond yields continued to rise and the possibility of fresh lockdown to tackle the new wave of coronavirus loomed in some states.

The Sensex tumbled 1,145 points, or 2.3 per cent — the most in two months — to end at 49,744, the lowest close since February 2. The index has lost 2,410 points, or 4.6 per cent, in the last five sessions. The Nifty50 index fell to 14,676, down 306 points, or 2.04 per cent. The India VIX (volatility index) surged 14.5 per cent to finish at 25.47.

 

 

 

 

 

At the close of trade on Monday, the market capitalisation of BSE-listed companies stood at Rs 200.26 trillion, with investor wealth declining by Rs 3.7 trillion compared to the previous closing.

Investor appetite towards risky assets waned as the benchmark US Treasury yields hit a near one-year peak at 1.37 per cent. The sell-off in the bond market and the rise in commodity prices have stoked fears of inflation and loose monetary stance.

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