Carnage on Dalal Street: Stock market crash wipes off Rs 5 lakh cr investor wealth

WION Web Team New Delhi, Delhi, India Feb 28, 2020, 12.18 PM(IST)

File photo. Photograph:( Zee News Network )

Story highlights

The bloodbath in the equity market wiped out investor wealth worth Rs 4,65,915.58 crore, taking the total market capitalisation to Rs 1,47,74,108.50 crore on the BSE.

The wealth of Domestic investors plummeted by nearly Rs 5 lakh crore on Friday as Indian stock market indices were hammered and opened in red today.

Due to high level of uncertainty over the economic impact of coronavirus outbreak the equity markets crashed tracking global equity selloff.

Also read: Sensex plunges 1000 points, Nifty opens below 11,400

The bloodbath in the equity market wiped out investor wealth worth Rs 4,65,915.58 crore, taking the total market capitalisation to Rs 1,47,74,108.50 crore on the BSE.

The m-cap of BSE-listed companies stood at Rs 1,52,40,024.08 crore at the end of trading on Thursday.

Earlier in the opening session, stocks market crashed with the Sensex falling 1,100 points in Morning.

At 12:05 pm, the Sensex was trading at 38,478.44, lower by 1,267.22 points or 3.19% from the previous close of 39,746 points while the Nifty 50 was down by 375 points to 11,257.

Meanwhile, Indian Rupee tumbled to 71.93 vs 71.55 previous close, against the US dollar. The fall was in line with Asian peers.

In the previous session, the Sensex settled lower by 143.30 points or 0.36 per cent to 39,745.66.Similarly, the NSE Nifty50 settled at 11,633.30, lower by 45.20 points or 0.39 per cent. 

According to analysts, intense spread of coronavirus is pushing investors away. There is sharp foreign fund outflow led by strong dollar index, as investors reduce their exposure to emerging markets amid global uncertainty.

(With inputs from agencies)