3-days selloff in Indian equities erode over ₹4.90 lakh cr of investors' wealth3 min read 06 Jan 2023, 05:55 PM IST
This week, the market cap was highest on January 3rd of BSE listed firms to over ₹284.65 lakh crore before taking the downturn from January 4th. That being said, in last 3 trading sessions, the market cap has plunged by over ₹4,90,293.28 crore.
With markets sliding down for three consecutive days on Friday, over ₹4.90 lakh crore of investors' wealth has been eroded. From January 4-6th, Sensex and Nifty 50 have declined by 2% each leading the week to end on a bearish note. FIIs selling throughout the week coupled with cautious betting ahead of major tech Q3 earnings and FOMC minutes are major reasons for the broad-based selloffs in Indian equities.
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