Sensex slips over 1,530 pts, Nifty 50 plunges 475 pts this week; above ₹6.86 lakh cr wealth eroded
Domestic equities are in red since February 17th. From the last time when markets were in green which was February 16, Sensex has erased 1,855.58 points and Nifty 50 has dipped by 570.05 points in six trading sessions.
Indian market recorded its worst weekly performance in eight months. Global cues have played a bigger role in dictating sentiment as worries about rate hikes and inflation escalate. On the domestic front, the hysteria in Adani shares also soured the tone. On Friday, Sensex and Nifty 50 extended their sixth consecutive day drop, while ending below 59,500 and 17,500 levels. Riding on the back of the bearish market, more than ₹6.86 lakh crore of investors' wealth has been eroded this week.
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