Market turmoil leaves investors poorer by more than Rs 4.4 trillion
Domestic equity investors' wealth eroded by more than Rs 4.43 lakh crore on Monday as fears of a financial contagion triggered by one of the biggest bank failures in the US roiled market sentiments.
After a strong opening, Indian stocks went into a tailspin with the benchmark 30-share BSE Sensex tumbling nearly 900 points to close at 58,237.85 points -- sliding for the third straight trading session.
The NSE Nifty too declined 258.60 points to end at 17,154.30 points.
Reflecting the massive sell-off across sectors, the total market valuation of BSE-listed companies stood at Rs 2,58,56,295.60, leaving investors poorer by Rs 4,43,023.89 compared to the closing level on Friday.
The total market valuation was at Rs 2,62,99,319.49 at the end of trading on Friday, when the key index had crashed more than 670 points.
Out of the 3,757 stocks that traded on the BSE, as many as 2,915 closed in the red while 695 managed gains.
A total of 219 stocks touched their 52-week low while 75 reached