NEW DELHI New Delhi: Investor wealth declined by a massive Rs 7.15 lakh crore during morning trade on Friday as stock markets fell sharply due to a sharp decline in shares of IndusInd Bank and continued outflows of foreign funds. BSE Sensex Sensex fell 708.69 points to 79,356.47 and NSE Nifty fell 286.35 points to 24,113.05. Following a weak trend in stocks, the market capitalization of BSE-listed companies fell by Rs 7,15,739.19 crore to Rs 4,36,63,565.73 crore during morning trade. (US$ 5.19 trillion) remained.
Among the 30 Sensex stocks, IndusInd Bank fell over 19 per cent as the company reported a 40 per cent decline in September quarter net profit at Rs 1,331 crore, mainly on asset quality concerns. Mahindra & Mahindra, NTPC, Larsen & Toubro, Adani Ports, Titan, Tata Steel and JSW Steel were also among the laggards.From the blue-chip pack, ITC jumped over 3 per cent after the diversified unit in September It reported a 1.8 per cent rise in its consolidated net profit at Rs 5,054.43 crore for the second quarter ended 2024. ITC's revenue from operations grew 15.62 per cent to Rs 22,281.89 crore during the July-September period.
Asian Paints, Sun Pharma, Nestle and Hindustan Unilever were other big gainers. According to exchange data, foreign institutional investors (FIIs) infused Rs 5,062.45 crore in Asian markets on Thursday, with Seoul, Shanghai and Hong Kong rising while Tokyo declined. US markets closed mostly higher on Thursday. Global oil benchmark Brent crude rose 031 per cent to $74.61 a barrel. In a disappointing trade on Thursday, the BSE benchmark closed 16.82 points or 0.02 per cent lower at 80,065.16. Nifty fell 36.10 points or 0.15 per cent to 24,399.40 in volatile trade.
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