New Delhi: The wealth of investors fell more than Rs 3.39 lakh Crore at the beginning of trading on Friday amid a very weak market trend.
BSE benchmark was marked 1,011.93 points to 57,914.10 after a weak opening.
The market capitalization of companies registered in BSE decreased by Rs 3,39,519.47 Crore to Rs 2,64,41,844.80 Crore at the beginning of trading.
“US inflation in January was worse than expected at 7.5 percent pushed 10 years to 2.03 percent of the Fed Hawkish, which could raise interest rates at least 100 basis points this year.
The increase in interest rates is even 50 bps In March it looks more likely now.
This is not good news for the global equity market, “VK Vijayakumar, head of investment strategist at Geojit Financial Services, said.
The stock is the biggest obstacle among BSE 30-Share Benchmark Frontline company.
Infosys are the biggest loser, falling nearly 3 percent, followed by Mahindra and Wipro technology.
In a broader market, the MIDCAP index and SMALLCAP BSE traded more than 1 percent lower.
In the previous trading session, 30-Share BSE benchmark settled 460.06 points or 0.79 percent higher at 58,926.03.
The wealth of investors falls more than RS 3.39 lakh Crore at the beginning of trading
