Since last Wednesday, over a third of stocks in the BSE 200 have lost over 6% of their value while 13 have dropped by over 10%. Foreign investors have liquidated close to $470 million worth of Indian shares in this time. (Express Photo)
The Sensex continued on its losing streak for the sixth straight session on Wednesday, giving up a total of 1,133 points or 4.33% over the period, reports fe Bureau in Mumbai. Since last Wednesday, over a third of stocks in the BSE 200 have lost over 6% of their value while 13 have dropped by over 10%. Foreign investors have liquidated close to $470 million worth of Indian shares in this time.
Commodity producers, public sector banks and over-leveraged companies dominate the list of losers with names like JP Associates, Oriental Bank, Vedanta, UCO Bank, Unitech and Jindal Steel & Power being the prominent scrips.
Foreign portfolio investors continued to take risk off the table ahead of the scheduled meeting of US Federal Open Market Committee (FMOC) on December 16 and 17.Growing concerns that the goods and services tax Bill may not be passed in the winter session as was earlier though probable also weighed on investor sentiment. Overseas investors remained net sellers on Wednesday, offloading shares worth $79 million, provisional data from exchanges show.
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