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Investors' wealth tumbles over Rs 4.54 trillion as markets crash

The 30-share BSE benchmark index plummeted 1,449.03 points to 48,580.80 in morning trade

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Indian markets | Markets | Indian stock markets

Press Trust of India  |  New Delhi 

Illustration by Binay Sinha
Illustration by Binay Sinha

Investors' wealth tumbled over Rs 4.54 lakh crore in morning trade on Monday as crashed amid a sharp spike in coronavirus cases in the country.

The 30-share plummeted 1,449.03 points to 48,580.80 in morning trade.

Following this, the market capitalisation of BSE-listed companies dived Rs 4,54,987.72 crore to Rs 2,02,71,414.07 crore.

From the 30-share pack, 27 companies were trading lower led by banking companies -- IndusInd Bank, Bajaj Finance, Bajaj Finserv, State Bank of India, Axis Bank and HDFC.

"The fundamental factors influencing are changing fast. There are both positives and negatives. ... the fast-rising COVID cases is a cause of concern. Restriction of economic activity in many areas might impact growth recovery. But, as of now, there are no signs of a slowdown in the economy," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Coronavirus cases in India hit a record daily high since the the outbreak of the pandemic with 1,03,558 new infections pushing the nationwide COVID-19 tally to 1,25,89,067, according to the Union Health Ministry data updated on Monday.

The BSE midcap index and small cap index were trading over 2 per cent lower.

Equity were closed on April 2, for 'Good Friday'.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mon, April 05 2021. 12:19 IST
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