Stock market crash: Investors lose ₹25 lakh crore in four days of slump
Investments worth nearly ₹25 lakh crore in market valuation have been lost in the past four days of a severe drubbing in the equity market. A share broker reacts as Sensex and Nifty prices plummet in Kolkata. (ANI/File Photo) The market capitalisation of the Bombay Stock Exchange (BSE)-listed firms dropped to ₹4,17,05,906.74 crore ($4.82 trillion), a fall of ₹24, 69,243.3 crore across these days, including Monday, when a sharp fall in equities resulted in the market cap of the BSE-listed firms plunging below the $5-trillion mark. On Monday alone, investors’ wealth dropped ₹12.61 lakh crore, it added. “Continued foreign institutional investor selling crossed ₹20,000 crore this month, contributing to the negative sentiments. The Indian rupee touched a fresh low against the dollar during the session, pressured by stronger-than-expected US non-farm payrolls data which further dampened the sentiment, resulting in a firm dollar index,” Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal Financial Services Ltd, told PTI. Khemka also noted that oil prices, on the other hand, reached their highest level in over three months, …
