Investors' wealth tumbles by over Rs 8.47 trn amid global sell-off

Investors' wealth plummeted by more than Rs 8.47 lakh crore on Monday as the stock market continued to be ravaged by weak global sentiments triggered by mounting tensions between Russia and Ukraine.

The domestic market remained in the red for the second straight session after witnessing a massive sell-off on Friday.

As the counters closed for the day on Monday, the 30-share benchmark Sensex had plunged 1,747.08 points to 56,405.84 points, a decline of 3 per cent.

Reflecting the rout, the market capitalisation of BSE-listed companies or the notional investors' wealth eroded massively by Rs 8,47,160.93 crore to Rs 2,55,42,725.42 crore.

On Friday too, investors' wealth had taken a beating when it tumbled over Rs 3.91 lakh crore.

In just two sessions, the total investors' wealth has eroded by more than Rs 12 lakh crore.

The BSE Sensex on Monday plunged 1,747 points while the broader NSE Nifty plummeted 531.95 points or 3.06 per cent to 16,842.80 -- closing below the key 17,000-level for the first time this year.

The rupee too slumped 24 paise to close at 75.60 against the US dollar.