Investors Lose More Than Rs 18 Lakh Crore As Markets' Decline Continues
NDTV
Investors' wealth has tumbled by over Rs 18.17 lakh crore during six days of market decline
Investors' wealth has tumbled by over Rs 18.17 lakh crore during six days of market decline, with sentiments remaining extremely bearish amid rate hikes by global central banks, unrelenting foreign fund outflows and jump in crude oil prices.
The 30-share BSE Sensex has tanked 3,959.86 points or 7.15 per cent in six days of decline. It hit its one-year low of 50,921.22 during the day on Friday.
The continuous weak trend in equities have dragged down the market capitalisation of BSE-listed firms by Rs 18,17,747.13 crore to Rs 2,36,77,816.08 crore during this time (June 9-June 17).
"Globally as well as domestically, equity markets saw carnage in the last couple of trading sessions as central banks across the world make aggressive rate hikes ... Persistent FIIs selling and rising COVID cases have also dented sentiments," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
