Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Markets / Stock Markets/  Investors' wealth erodes by over 8 lakh cr as markets bleed on Monday
BackBack

Investors' wealth erodes by over ₹8 lakh cr as markets bleed on Monday

The NSE Nifty 50 index ended 3.06% lower at 16,842.80, while the S&P BSE Sensex dropped 3% to 56,405.84, both marking their worst day since mid-April 2021

Reflecting the rout, the market capitalisation of BSE listed companies or the notional investors' wealth eroded massively by ₹8,47,161 crore (PTI)Premium
Reflecting the rout, the market capitalisation of BSE listed companies or the notional investors' wealth eroded massively by 8,47,161 crore (PTI)

Investors' wealth has tumbled by more than 8.47 lakh crore on Monday as Indian markets were not spared from the meltdown of global markets due to the Ukraine crisis.

The NSE Nifty 50 index ended 3.06% lower at 16,842.80, while the S&P BSE Sensex dropped 3% to 56,405.84, both marking their worst day since mid-April 2021.

Reflecting the rout, the market capitalisation of BSE-listed companies or the notional investors' wealth eroded massively by 8,47,160.93 crore to 2,55,42,725.42 crore.

Global equities too were under strong pressure today while crude oil extended gains as geopolitical risks over Ukraine rippled through global financial markets, spurring demand for safe-haven assets. Gold prices today hit a near 3-month high on MCX.

The domestic market remained in the red for the second straight session after witnessing a massive sell-off on Friday, leading to a fall of over 3.91 lakh crore in investors' wealth.

In just two sessions, the total investors' wealth has eroded by more than 12 lakh crore.

“Sentiments have turned very negative for the short-term with the heightened tension over the Ukraine crisis. Weakness in global markets is the direct fallout of the Ukraine crisis," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The Indian rupee today declined 20 paise to 75.56 against the US dollar in opening trade on Monday, amid geopolitical tensions pushing investors to the safe-haven appeal of the greenback.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 14 Feb 2022, 07:41 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie