Investors’ wealth droop over Rs 8 lakh crore in morning commerce

Investors’ wealth tumbled by greater than Rs 8 lakh crore in lower than an hour of commerce on Thursday, as Russia’s assault on Ukraine pushed inventory markets deep into the crimson.

Amid traders getting spooked by the escalating tensions between Ukraine and Russia, the market capitalisation of BSE-listed firms crashed to Rs 2,47,46,960.48 crore at round 10.15 am.

At shut of commerce on Wednesday, the market capitalisation, an indicator of notional wealth of traders, was at Rs 2,55,68,668.33 crore. This displays a wealth erosion of greater than Rs 8.2 lakh crore.

Domestic fairness gauges Sensex and Nifty crashed over 3 per cent in early morning offers on Thursday following large selloffs in international share markets after Russia introduced army operation in Ukraine.

The BSE Sensex tanked 1,718.99 factors or 3 per cent to 55,513.07; and the Nifty plunged 508.85 factors or 2.98 per cent to 16,554.40.

Russian President Vladimir Putin on Thursday introduced a army operation in Ukraine. In a televised handle, Putin mentioned the accountability for bloodshed lies with the Ukrainian “regime”. Putin warned different international locations that any try to intrude with the Russian motion would result in “consequences they have never seen”.

Meanwhile, US President Joe Biden has warned that the world will maintain Russia accountable for the loss of life and destruction as a result of “unprovoked” and “unjustified” assault on Ukraine and the US and its allies will reply in a “united and decisive” approach.