Equity Investors Shed Rs 6 Lakh Crore As Markets Tumble

On Wednesday, the BSE benchmark Sensex tumbled more than 790 points, eroding investors’ wealth by Rs 6 lakh crore.

The 30-share BSE Sensex dropped 790.34 points, or 1.08 percent, to 72,304.88. During the day, it sank 872.93 points, or 1.19 percent, to 72,222.29.

The BSE-listed businesses’ market capitalization (mcap) fell by Rs 6,02,338.56 crore to Rs 3,85,97,298.49 crore (USD 4.71 trillion).

Among the Sensex firms, Power Grid declined the highest, down 4.43 percent.

Reliance Industries lost 2 percent, adding 185.59 points to the market decline. The other big laggards included Maruti, IndusInd Bank, Mahindra & Mahindra, Wipro, JSW Steel, Asian Paints, Tata Steel, Reliance, and Titan.

Gainers included Hindustan Unilever, Infosys, Tata Consultancy Services, and Bharti Airtel.

In the broader market, the BSE smallcap index fell 1.94 percent, while the midcap index dropped 1.82 percent.

A total of 2,963 stocks fell, while 881 rose and 77 were unchanged.

In Asian markets, Seoul closed higher, while Tokyo, Shanghai, and Hong Kong closed lower.

European stocks were generally trading down. The majority of US markets closed higher on Tuesday.

According to exchange data, foreign institutional investors (FIIs) sold securities worth Rs 1,509.16 crore on Tuesday.

On Tuesday, the BSE benchmark went up 305.09 points, or 0.42 percent, to 73,095.22. The Nifty closed 76.30 points, or 0.34 percent higher, at 22,198.35.

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