Investors' wealth tumbles by Rs 1.56 trillion amid massive sell-off

Investors' wealth plunged by Rs 1.56 lakh crore on Wednesday as markets witnessed a massive sell-off amid muted global sentiments.

The 30-share BSE Sensex plummeted 599.64 points or 1.48 per cent lower to end the day at 39,922.46 points.

During the day, the index plunged 747.5 points to 39,774.60. Following the selloff in equities, the market capitalisation of BSE-listed companies dropped by Rs 1,56,739.58 crore to Rs 1,58,22,119.75 crore.

"Markets traded under pressure and lost over a per cent. After the flat start, the benchmark gradually inched lower amid muted global sentiments due to rising cases in US and Europe," Ajit Mishra, VP (Research) at Religare Broking Ltd, said.

IndusInd Bank was the top laggard in the Sensex pack, declining 3.45 per cent, followed by HDFC, ICICI Bank, Tech Mahindra, Bajaj Finance and HDFC Bank.

BSE bankex, finance and metal indices fell up to 2.28 per cent while telecom and capital goods indices climbed as much as 2.90 per cent.

In the broader market, the BSE mid-cap and small-cap indices dipped up to 0.93 per cent.