Continuing the losses for third day in a row, BSE Sensex dropping down on daily basis, due to it investors wealth incures lisses of Rs. 3.62 Lakh crores in just 3 trading days. BSE Sensex fell further by 169.45 points to end at a near two-month low of 37,121.22, extending losses for the third straight session Wednesday. The index tanked 970 points or more than 2.5 per cent since Monday, largely hit by rupee woes and escalating trade tensions between the US and China.
Led by losses in stocks, the market capitalisation of BSE listed companies eroded by Rs 3,62,357.15 crore to Rs 1,52,73,265 crore since Friday. Market analysts said that trade war escalation issues between US and China + , increasing crude oil prices + and depreciating rupee against the dollar + have dampened sentiments. “Despite favourable global cues and recovery in rupee, the domestic market continued to witness selling pressure due to higher oil price and yield,” said Vinod Nair, Head of Research, Geojit Financial Services Ltd.