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.
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.
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.
Bharat Biotech signed an MoU with Precisa Medicamentos and Envixia Pharmaceuticals in November last year for the purpose of introducing Covaxin in Brazil
NITI Aayog Member Dr VK Paul said the third wave of COVID-19 is being seen globally and urged people to make efforts to ensure that it does not hit India
Last year on 15 April, the National Capital had recorded 17 cases. So far, over 14.35 lakh cases have been registered while the toll stands at 25,015, said the health department