Investor wealth erodes by Rs 6.25 lakh cr in early morning trade on coronavirus scare

Investor wealth worth Rs 6.25 lakh crore was wiped off in early morning trade on Monday as markets witnessed yet another sell-off, with the BSE benchmark plunging 2,182.41 points as Covid-19 scare continued to hit sentiment.

Press Trust of India March 16, 2020 11:11:22 IST
Investor wealth erodes by Rs 6.25 lakh cr in early morning trade on coronavirus scare

New Delhi: Investor wealth worth Rs 6.25 lakh crore was wiped off in early morning trade on Monday as markets witnessed yet another sell-off, with the BSE benchmark plunging 2,182.41 points as COVID-19 scare continued to hit sentiment.

The market capitalisation of BSE-listed companies dropped by Rs 6,25,501.8 crore to Rs 1,23,00,741.02 crore in the opening trade.

Investor wealth erodes by Rs 625 lakh cr in early morning trade on <span class=coronavirus scare" width="380" height="285" class="size-full wp-image-5936491" />

File image of Rs 100 notes. AFP.

The drop in investor wealth was led by extremely weak market sentiment, where the BSE Sensex witnessed another plunge after staging a strong comeback on Friday.

The entire BSE 30-share pack was trading in the red, led by IndusInd Bank, ICICI Bank, HDFC and Axis Bank, tumbling up to 9.3 per cent.

Market heavyweight Reliance Industries was also trading over 3 percent lower, which was also instrumental in dragging the benchmark lower.

All the sectoral indices were trading with sharp losses.

Updated Date:

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