Investor wealth tumbles Rs 9.74 trillion in two days as markets plunge

Topics Market news | Indian markets | BSE

The Indian markets continued to plummet on Tuesday tracking weak global cues.

Investor wealth dropped by Rs 9.74 lakh crore in two days of market fall this week triggered by weak global trends and fears of coronavirus hitting the overall economy.

In two days, investors have lost Rs 9,74,176.71 crore wealth. At close of trade on Tuesday, the market capitalisation of BSE-listed companies was at Rs 1,19,52,066.11 crore.

Fag-end selling pulled down the BSE's key bellwether index by 810.98 points or 2.58 per cent on Tuesday. Markets erased all its early gains, tracking weak global cues and finally closed at 30,579.09. On Monday, the key index had plummeted 2,713.41 points or 7.96 per cent.

"The Indian markets continued to plummet on Tuesday tracking weak global cues. The markets across the globe are witnessing high volatility and the recent stimulus measures have failed to assuage the investor fears.

"On the domestic front, the markets will continue to follow the global cues and therefore further downside cannot be ruled out in the near-term," according to Ajit Mishra, VP - Research, Religare Broking Ltd.

Among the 30-share pack, 21 companies closed the day with losses led by ICICI Bank, IndusInd Bank, Bajaj Finance, HDFC and Infosys, tumbling up to 8.95 per cent.

From the broader market, the BSE midcap and smallcap fell by 1.84 per cent and 2.27 per cent, respectively. A total of 1,650 companies declined, while 779 advanced and 166 remained unchanged on BSE. As many as 539 companies hit their one-year low mark on Tuesday.

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