Mumbai: Investors are suffering huge losses due to the ongoing slump in the stock market for the past three days. The declines due to the weak global trend have so far cost investors Rs 4 lakh crore. The BSE Sensex has dropped 3.05 per cent to 1,184.15 points from July 18. In the last three days, the market capitalization of BSE listed companies declined to Rs 4,37,602.4 crore from Rs 1,44,76,204.02 crore. The Sensex at the Bombay Stock Exchange plunged 306 points, or 0.6 %, to close at a four-day closing high of 18,229.
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Amid weak global cues, the major indices came down with heavy selling in shares of two major domestic financial companies HDFC Bank and HDFC. According to traders, capital withdrawals from foreign portfolio investors and fall in the exchange rate of the rupee also affected the market sentiment. The Sensex at the Bombay Stock Exchange plunged 305.88 points, or 0.80 %, to close at 38,031.13 points. During the trading, it was at 37,890.32-38,333.52 points.
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The Nifty at the National Stock Exchange also lost 82.10 points, or 0.72 %, to 11,337.15. During the trading period, it was at 11,301.25-11,398.15 points. The Sensex shares suffered the most losses to HDFC and HDFC Bank, while the shares of the two came down 5.09 %and 3.32 %, respectively. Shares were lost due to reports of private sector HDFC Bank's non-performing assets (NPA) rising. HDFC Bank's gross NPA rose to Rs 11,768.95 crore, equivalent to 1.50 % of its total outstanding debts.
