Investors' wealth tumbles more than Rs 2.16 trillion as markets crash

Investors' wealth tumbled over Rs 2.16 trillion at close of trade on Monday as markets crashed amid a sharp spike in coronavirus cases in the country

Investors' wealth tumbled over Rs 2.16 lakh crore at close of trade on Monday as markets crashed amid a sharp spike in coronavirus cases in the country.

The 30-share BSE benchmark Sensex plummeted 1,449.03 points to 48,580.80 intra-day. It finally closed 870.51 points or 1.74 per cent lower at 49,159.32.

Following this, the market capitalisation of BSE-listed companies dived Rs 2,16,566.52 crore to reach Rs 2,05,09,835.27 crore at close of trade.

From the 30-share pack, 25 companies closed lower, led by Bajaj Finance, IndusInd Bank and State Bank of India.

In contrast, IT stocks closed with gains, with HCL Tech leading the gainers' chart with a jump of 3.08 per cent.

"The week started on a negative note for the Indian markets mainly due to sharp surge in COVID-19 cases across the country. Despite stable global cues, the Indian indices lost its ground and ended with losses.

"The broader markets too were not spared as both BSE midcap and smallcap ended with losses of 1 per cent each," said Ajit Mishra, VP - Research, Religare Broking Ltd.

The BSE realty, bankex, finance and auto indices tanked up to 3.62 per cent, while IT, teck, metal and telecom ended in the green.