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Investor wealth erodes by Rs 3.25 trillion as equity markets crash

Investor wealth on Thursday eroded by Rs 3.25 trillion as the equity markets witnessed massive selloff, halting its 10-session winning run

Investors
Investors (Photo credit: Kamlesh Pednekar)

Investor wealth on Thursday eroded by Rs 3.25 lakh crore as the equity markets witnessed massive selloff, halting its 10-session winning run.

The 30-share BSE index tanked 1,066.33 points or 2.61 per cent to close at 39,728.41.

Following the massive selloff, the market capitalisation of BSE-listed companies tumbled Rs 3,25,464.52 crore to Rs 1,57,31,141.32 crore.

"Tracking weak global cues, domestic bourses tumbled in today's session and joined the global sell-off amid faded US stimulus hopes and worries over re-surging COVID-19 infections in Europe," said Sumeet Bagadia, Executive Director, Choice Broking.

All Sensex constituents closed in the red, except Asian Paints, which recorded marginal gains.

Bajaj Finance was the biggest loser from the pack, declining 4.68 per cent, followed by Tech Mahindra, IndusInd Bank, ICICI Bank, SBI, Reliance Industries and Bharti Airtel.

All sectoral indices also closed lower, with BSE telecom, bankex, energy, finance, teck and IT indices declining as much as 3.54 per cent.

In the broader market, the BSE mid-cap and small-cap indices dipped up to 1.75 per cent.