Investors suffered a loss of Rs 3,20,633.05 crore on the first day of the new financial year due to a sell-off in the stock market amid Corona's impact. BSE Sensex lost 1,203.18 points or 4.08 percent to close at 28,265.31 points on Wednesday. The market capitalization of listed companies on the BSE has reduced by Rs 3,20,633.05 crore to Rs 1,10,28,123.54 crore due to the breakdown of the equity market. On the last day of the financial year 2018-19, there was a significant increase in the stock markets.
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Regarding this decline, Ajit Mishra, Vice President (Research), Religare Broking Ltd said, "On Wednesday, the market saw a decline due to sudden increase in coronavirus cases and decrease in vehicle sales." Apart from this, due to weak global cues and selling of shares by foreign companies, public perception was affected.
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He further said that due to global slowdown, rising cases of COVID-19 and weak economic data, the impact of the breakdown of stock markets globally was also seen on the market.
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Tech Mahindra suffered the most on the Sensex. Apart from this, shares of Kotak Bank, Tata Consultancy Services, Infosys and Axis Bank also declined. At the same, only the stocks of Hero MotoCorp, Bajaj Auto, Bajaj Finance and Titan gained on the Sensex based on 30 stocks of BSE.