Coronavirus melts stock markets; investors' wealth plummets over Rs 10 lakh crore in first hour of trade

Investor wealth plummeted by over Rs 10 lakh crore in the first hour of trade on Monday as the equity markets went into a tailspin and sank 10 percent

Press Trust of India March 23, 2020 13:42:32 IST
Coronavirus melts stock markets; investors' wealth plummets over Rs 10 lakh crore in first hour of trade

New Delhi: Investor wealth plummeted by over Rs 10 lakh crore in the first hour of trade on Monday as the equity markets went into a tailspin and sank 10 percent.

Rising cases of coronavirus (Covid-19) has hit market sentiment negatively, with the equity markets starting the week with a massive selloff.

 <span class=Coronavirus melts stock markets investors wealth plummets over Rs 10 lakh crore in first hour of trade" width="380" height="285" class="size-full wp-image-5263731" />

Representative image. Reuters

The market capitalisation of BSE-listed firms dropped by Rs 10,29,847.17 crore to Rs 1,05,79,296.12 crore just before the trading was halted for 45 minutes.

Markets took a heavy beating as the BSE benchmark index plunged 2,991.85 points or 10 percent — its lower circuit limit.

All the constituents from the BSE 30-share index witnessed selling led by Axis Bank, ICICI Bank, IndusInd Bank and Bajaj Finance, tanking up to 19.98 percent.

All the sectoral indices too traded with heavy losses led by bank, realty and finance.

Market heavyweights RIL tumbled 11.57 percent and TCS tanked 5.84 percent.

Updated Date:

also read

Market Roundup: Sensex jumps 260 pts, Nifty tops 14,550; today's top gainers and losers
Business

Market Roundup: Sensex jumps 260 pts, Nifty tops 14,550; today's top gainers and losers

After gyrating 877 points during the day, the 30-share BSE index ended 259.62 points or 0.53 per cent higher at 48,803.68

Market Roundup: Sensex crashes 1,700 points, Nifty below 14,400 amid surge in COVID-19 cases
Business

Market Roundup: Sensex crashes 1,700 points, Nifty below 14,400 amid surge in COVID-19 cases

Market indices fell around 3.5 percent on Monday, 12 April amid rising COVID-19 cases and vaccine supply crunch in the country

Market Roundup: Indices gain over 1.3%; Mahindra and Mahindra, Bajaj Finserv among top gainers
Business

Market Roundup: Indices gain over 1.3%; Mahindra and Mahindra, Bajaj Finserv among top gainers

After falling by around 3.5 percent on Monday, the BSE Sensex reclaimed the 48,500 mark while the NSE Nifty traded above 14,500