Investors' wealth slips by Rs 6.47 lakh cr; BSE mcap at Rs265.29 trn
Investors’ wealth tumbled over Rs6.47 lakh crore in two days of market crash amid weak cues from global markets.
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New Delhi: Investors' wealth tumbled over Rs6.47 lakh crore in two days of market crash amid weak cues from global markets. The two-day fall in equities wiped out Rs6,47,484.72 crore, bringing the market capitalisation (mcap) of BSE-listed firms to Rs2,65,29,671.65 crore.
"Indian markets extended losses after taking cues from its Asian peers. Nifty opened lower and remained under selling pressure throughout the day.
We expect markets to remain volatile amid worries about inflation and its impact on corporate earnings, while also fuelling concerns over aggressive US Fed rate hikes in the near term," said Siddhartha Khemka, head (retail research), Motilal Oswal Financial Services Ltd.
