Last two BSE sessions cost investors Rs1.15 lakh crore

The BSE Sensex plunged to 2-week low on Monday, down over 365 points at 16,501.74, as investors sold across sectors on weak industrial growth numbers and turmoil in global markets amid euro-zone debt worries.

 

The selling was so strong that all 13 sectoral indices closed with losses of up to 3.43%, with consumer durables, metals, IT, realty, banking, auto and capital goods taking bit hits.  

 

In all, 27 of the 30 scrips in the Sensex ended in the red. The index opened nearly 200 points lower and fell further to settle at 16,501.74, down 365.23 points or 2.17%.

 

On Friday, it had tumbled 298.57 points or 1.74 per cent. It logged a low of 16,393.04, intra-day.

 

In the past two sessions, investors have lost over Rs 1.15 lakh crore on the BSE.

 

The 50-issue Nifty of the National Stock Exchange also tumbled 112.65 points or 2.23% to end below the psychological 5K-mark of 4,946.80.

 

The country's factory output, as measured by the Index of Industrial Production was a meagre 3.3% in July from 9.9% in the same month last year because of poor show by manufacturing and capital goods sectors.

 

"IIP number came as a shock. As against 6.1% growth expected, the July number came in at dismal 3.3%. The figure was very disappointing as compared to IIP number for June which was at 8.8%. Market reacted negatively with sharp slip downwards," said Shanu Goel, senior research analyst at Bonanza Portfolio.

 

Globally, most of the Asian markets closed in the red. European markets were also trading lower in the afternoon deals.