JOIN USInvestors lose nearly Rs 7 lakh cr on coronavirus fears
Investor wealth plummeted by nearly Rs 7 lakh crore on Monday as equity markets crashed tracking global equity sell-off amid mounting fears of an economic slowdown due to the coronavirus outbreak.
Market capitalisation (m-cap) of the BSE-listed companies saw a massive decline after the Sensex plunged over 2,467 points during the day, the 30-share index settled 1,941.67 points or 5.17 per cent lower at 35,634.95.
Likewise, the NSE Nifty slumped 538 points or 4.90 per cent to close at 10,451.45.
The carnage in the equity market wiped out investor wealth worth Rs 6,84,277.65 crore, taking the total m-cap to Rs 1,37,46,946.76 crore on the BSE at the end of Monday's trading session.
The m-cap of BSE-listed companies stood at Rs 1,44,31,224.41 crore at the end of trading on Friday.
Traders believe mounting fear of recession in major economies due to the coronavirus outbreak has sent equities into a downward spiral.