Investors poorer by Rs 8.91 lakh cr

Equity investors became poorer by Rs8.91 lakh crore on Wednesday as markets came under a bear attack. The market capitalisation (mcap) of BSE-listed companies eroded by Rs8,91,729.43 crore to Rs3,50,19,998.87 crore (Rs350.20 lakh cr).

“Markets were on a record-setting spree for a while and have been in an overbought zone, so hiccups were expected in the form of profit-taking which came to the fore today. Redemption was seen across the sectors, and even mid and small-cap stocks came under the grip of a strong bear hammering,” said Prashanth Tapse, senior vice-president (research) at Mehta Equities Ltd.