Investors lose Rs 4.12 lakh crore as markets slide amid weak global cues

Investors saw their wealth decline by Rs 4.12 lakh crore during Friday's morning session as benchmarks slumped on the back of weak global cues and fresh foreign fund outflows.

The 30-share BSE Sensex extended its losses for a third consecutive session, plummeting 896.7 points or 1.09 per cent to 81,304.46. The drop came after hitting an all-time high of 82,725.28 hit on Monday.

The broad sell-off led to a sharp decline in the market capitalisation of BSE-listed companies, wiping out Rs 4,12,152.83 crore, bringing the total market value down to Rs 4,61,56,748.42 crore.

Among the major losers in the 30-stock Sensex were State Bank of India, HCL Technologies, Reliance Industries, Adani Ports, Larsen & Toubro, and Mahindra & Mahindra. In contrast, Bajaj Finance, Asian Paints , and Hindustan Unilever managed to post gains.

Asian markets, including Seoul, Tokyo, Shanghai, and Hong Kong, also traded lower, mirroring the weak sentiment. US markets had closed mostly in the red on Thursday.

Foreign Institutional Investors (FIIs) sold equities worth Rs 688.69 crore on Thursday, reversing a buying streak from previous sessions, according to exchange data.

Meanwhile, global oil benchmark Brent crude traded 0.15 per cent higher at $72.81 per barrel.

"The near-term market direction will likely hinge on the US jobs data, which is expected to be released tonight," noted V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

On Thursday, the BSE Sensex had dropped 151.48 points or 0.18 per cent to close at 82,201.16.