Investors poorer by over Rs 11.23 lakh crore in two days of heavy market selloff
Investors turned poorer by Rs 11,23,010.78 crore in two days as home fairness market continued to face extreme drubbing amid a world selloff.
The BSE benchmark Sensex plunged 1,182.53 factors to a low of 55,829.21 in early commerce on Monday. The benchmark had tumbled 889.40 factors or 1.54 per cent to shut at 57,011.74 on Friday.
The market capitalisation of BSE-listed corporations tumbled Rs 11,23,010.78 crore to Rs 2,52,79,340.30 crore in two days.
Investors’ wealth had on Friday shrunk by over Rs 4.65 lakh crore as markets suffered a heavy selloff following weak international developments and continued promoting by overseas institutional traders.
“The Indian benchmarks made gap-down opening today amid rising Omicron coronavirus cases worldwide. Traders will be cautious with continuous net outflow of foreign funds as Foreign Portfolio Investors (FPIs) have pulled out Rs 17,696 from the Indian markets in December month so far,” Gaurav Garg, Head of Research, Capitalvia Global Research Ltd.
