 "Investors' wealth tumbles by over Rs 5.24 trn in two-day market sell-off")
Investors' wealth has eroded by Rs 5.24 trillion in last two days as markets saw a hectic sell-off on Wednesday as well.
The BSE Sensex plunged 656.04 points or 1.08 per cent to settle at 60,098.82. The 30-share index had tanked 554.05 points or 0.90 per cent on Tuesday.
The market capitalisation of BSE-listed companies tumbled by Rs 5,24,647.66 crore to Rs 2,74,77,790.05 crore in two days.
The market capitalisation of BSE-listed firms had reached a lifetime high of Rs 2,80,02,437.71 crore on Monday.
"Markets traded under pressure and lost a per cent, in continuation to the previous session's fall. The benchmark opened flat amid weak global cues however bears regained control as the day progressed and pushed the index gradually lower," according to Ajit Mishra, VP - Research, Religare Broking Ltd.
On Wednesday, Infosys was biggest drag among the 30-stocks frontline companies pack, declining by 2.77 per cent followed by Asian Paint, HUL, Nestle, Bajaj Finance, Wipro and Kotak Bank.
In the broader market, the BSE midcap index declined by 0.34 per cent while smallcap settled flat.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%