Here's why investors lost Rs 9 trillion in trade on Monday

Bears launched an all-out attack on the stock markets on Monday as record daily cases of Covid-19 infections weakened bull reign. The benchmark S&P BSE Sensex and the Nifty50 indices cracked nearly 1,900 points and 590 points to hit intra-day lows of 47,693 and 14,249 levels, respectively.

At close, the headline indices were 3.5 per cent lower each at 47,883 levels and 14,311 level, down 1,708 points and 524 points, respectively. Consequently, investor wealth plummeted by nearly Rs 8.69 trillion to Rs 200.9 trillion.

Volatility ran high in the markets as India VIX, the volatility gauge for the indices, soared