New Delhi: Investors wealth tumbled by a whopping Rs 3.11 lakh crore in two successive sessions of decline in the equity market following escalation in tensions in the Middle East.
Equity markets have been falling for second day in a row, with the 30-share key BSE index plummeting 679.85 points to a low of 40,784.76 on Monday.
The Sensex had ended 162.03 points, or 0.39 per cent, lower at 41,464.61 on Friday as well. Led by the weakness in equities in the last two trading sessions, the market capitalisation of BSE-listed companies plunged by Rs 3,11,234.47 crore to Rs 1,54,15,637.95 crore in late morning trade.
US President Donald Trump on Sunday vowed "major retaliation" if Iran tries to avenge the killing of its key military commander Qasem Soleimani. Following the news, Brent crude futures surged nearly 3 per cent to USD 70.59.
From the 30-share pack, 29 stocks were trading with losses led by Bajaj Finance, SBI, HDFC and Maruti Suzuki India.