Investors' wealth slumps over Rs 5.59 lakh cr in three days of market fall

Investors' wealth tumbled more than Rs 5.59 lakh crore in three days of market fall as sentiments remained muted amid the Russia-Ukraine conflict and its impact on the global economy.

Continuing its decline for the third day on Friday, the BSE gauge plummeted 1,214.96 points or 2.20 per cent to 53,887.72 during the day. It settled at 54,333.81, a decline of 768.87 points or 1.40 per cent.

In three days, the benchmark index tanked 1,913.47 points or 3.40 per cent.

Tracking decline in equities, the market capitalisation of BSE-listed companies plunged Rs 5,59,623.71 crore to Rs 2,46,79,421.38 crore in three days.

"Markets ended the week with a sharp cut, reflecting the feeble global sentiment. After the sharp reaction in early trade, the benchmark oscillated in the broader range to finally settle around the day's low," Ajit Mishra, vice-president (research) of Religare Broking Ltd, said.

In Friday's trade, Titan, Maruti Suzuki India, Asian Paints, Mahindra & Mahindra and Hindustan Unilever Limited were the biggest drags on the Sensex, tumbling up to 5.05 per cent.

In the broader market, the BSE midcap and smallcap indices also faced heavy selling, tumbling up to 2.36 per cent.

All BSE sectoral indices also finished with deep cuts, with auto, metal, consumer discretionary goods and services, consumer durables and realty taking the biggest hit, tanking up to 3.40 per cent.

In the previous session, the 30-share BSE index finished 366.22 points or 0.66 per cent lower at 55,102.68.

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