Investor wealth plummets Rs 2.69 trn as stock market witnesses steep fall

Investor wealth eroded by Rs 2.69 lakh crore Thursday hit hard by massive sell-off in the equity market where the BSE benchmark index plummeted over 1,000 points in intra-day trade. The 30-share index plunged 759.74 points, or 2.19 per cent, to end at 34,001.15. Following the weak show by equities, the market capitalisation (m-cap) of BSE-listed companies witnessed an erosion of Rs 2,69,347.81 crore to Rs 1,35,70,402.59 crore. "Indian stock markets have fallen sharply on Thursday. This is a continuation of the sharp fall we have witnessed in the stock prices over the last couple of weeks (except for one or two days). "While most of the earlier fall could be attributed largely to domestic factors - be it the IL&FS effect and fears of contagion thereon, or the ever increasing fuel prices due to the combined effect of weakening rupee and rising global crude prices etc the reason for Thursday's fall is clearly global, with the US markets falling sharply," said Dheeraj Singh, Head of .

from Markets https://ift.tt/2OQpGAG