ALSO READInvestor wealth plunges Rs 1.43 lakh-cr as stocks nosedive nearly 260 pts Investor wealth surges over Rs 50 lakh cr in 3 yrs Massive selling in stock market wipes off investor wealth by Rs 2.6 lakh cr Investors' wealth hits $2 trillion mark as stocks rally to all-time high Market fall wipes out Rs 5 lakh crore investor wealth in three days
Investor wealth on Tuesday slumped by Rs 1.78 lakh crore amid sell-off in the broader market where the BSE benchmark Sensex tumbled 360 points. At the close of trade, the total market capitalisation of BSE listed companies eroded by Rs 1,78,689.83 crore to Rs 1,44,44,612 crore. The 30-share BSE index tanked 360.43 points to close at 33,370.76. "Political disturbance in Saudi is triggering high volatility in the crude prices, which is negative for India leading to depreciation in INR," Vinod Nair, head of research, Geojit Financial Services. "Additionally, continuous negative observations by USFDA on high-quality Indian pharma companies are leading to a downgrade for the sector," Nair added. From the 30-share basket, 25 stocks ended the day with losses led by Lupin, Cipla and SBI. Among sectoral indices, the BSE healthcare index emerged as the worst performer, losing 3.51 per cent, followed by realty 2.24 per cent. On BSE, 1,916 stocks declined, while 839 advanced and 116 remained unchanged.