Domestic investors lost Rs 6 lakh crore as the total market capitalization of BSE listed firms came down from Rs 285.9 lakh crore to279.8 lakh crore during the session on Friday.
The BSE Sensex dropped 1093.22 points to settle below 59,000 while NSE’s Nifty50 index went below the 17,550 mark.
Weakness in global markets pushed the Indian benchmark indices lower. Asian peers including Nikkei, Kospi and Hang Sent were trading with big cuts following a weak trading session in the US stocks on Thursday.
Meanwhile, Asian stocks declined for a fifth week following weakness in US equities as investors were expecting a US rate hike next week amid growing concerns of a global recession with warnings coming from International Monetary Fund, World Bank, Experts said.
Index heavyweights including RIL, Infosys, HDFC twin, TCS and ICICI Bank brought the indices lower. In all the major sectors, particularly in Finance, Metals, IT and Banking, selling was witnessed. Only two — IndusInd bank and Sun Pharma were trading in the green on BSE while the remaining 28 stocks were trading with cuts in the 30-share pack.
