Investors' wealth plunges Rs 1.67 trillion as stocks tumble

Investors' wealth on Friday eroded by Rs 1.67 trillion following a sharp sell-off in the broader market where the BSE index plummeted nearly 425 points.

The 30-share Sensex cracked 424.61 points, or 1.15 per cent, to close at 36,546.48.

Following the weak sentiment, the market capitalisation of BSE- listed companies dropped Rs 1,67,594.92 crore to Rs 1,41,07,190.48 crore.

"Market slid as renewed worries over global trade and profit booking in the domestic market after the solid performance in the last one week due to interim budget and RBI policy," Vinod Nair, head of research, Geojit Financial Services Ltd said.

From the 30-share pack, 25 stocks ended with losses where Tata Motors took the steepest hit of 17.28 per cent.

Sectorally, the BSE metal index plunged 3.42 per cent, while the auto gauge shed 3.37 per cent.

On the BSE, 1,616 stocks declined and 923 advanced, while 111 remained unchanged.

Also, 321 stocks hit their 52-week low.