Investors' assets of Rs. Massive erosion of 6 lakh crores

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- Stock market jolt after SEBI's advice

- At the close of business Sensex was down 790 points at 72305 and Nifty was down 247 points at 21951.

- Local bodies Rs. 1827 crore against the purchase of foreign investors Rs. 1879 crore sales

AHMEDABAD: Markets regulator Sebi, as a precautionary measure, has directed asset managers of small and midcap funds to disclose more information about the risks associated with the funds, leading to a major uproar in the Indian stock market today. Today, BSE Sensex lost 790 points and NSE Nifty index lost 247 points due to selling pressure from Chomer. On the back of Sensex's rout, investors' assets today (BSE market cap) rose by Rs. 6 lakh crores was massively eroded.

Sebi has also directed asset managers of small and midcap funds to disclose more information about the risks associated with the fund as a precautionary measure after analysts warned that many small midcap stocks were trading at higher prices than the actual prices. These reports had an adverse effect on the stock markets today. Today, the market breadth became very bad with stocks recording gaps in themselves after heavy selling pressure from Chomer. Out of 3921 shares traded at BSE today, the number of shares traded was 3002. While 844 stocks were in favor of reform. On the other hand, today by foreign investors Rs. 1879 crore was sold. While the institutional bodies have Rs. 1827 crores of new purchases were made.

At the close of business today, the Sensex closed at 72304.88 with a gap of 790.34 on the back of strong selling pressure. While Nifty came down to the level of 21951.15 with a gap of 247.20 points. Today, the small cap index lost 890 points to close at 44998 on the back of heavy selling pressure. While the midcap index fell by 724 points and remained soft at the level of 39019.

Following the pronounced crash in the Sensex, investors' assets today (BSE market cap) fell by Rs. 6.02 lakh crores was eroded and in the end Rs. 385.97 lakh crores.

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