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Business Market 23 Mar 2020 Investor wealth plum ...

Investor wealth plummets over Rs 10 lakh cr in first hour of trade

PTI
Published Mar 23, 2020, 11:12 am IST
Updated Mar 23, 2020, 11:12 am IST
Markets took a heavy beating as the BSE benchmark index plunged 10 percent its lower circuit limit
Representative Image (PTI)
 Representative Image (PTI)

New Delhi: Investor wealth plummeted by over Rs 10 lakh crore in the first hour of trade on Monday as the equity markets went into a tailspin and sank 10 per cent.

Rising cases of coronavirus (Covid-19) has hit market sentiment negatively, with the equity markets starting the week with a massive selloff.

 

The market capitalisation of BSE-listed firms dropped by Rs 10,29,847.17 crore to Rs 1,05,79,296.12 crore just before the trading was halted for 45 minutes.

Markets took a heavy beating as the BSE benchmark index plunged 2,991.85 points or 10 per cent -- its lower circuit limit.

All the constituents from the BSE 30-share index witnessed selling led by Axis Bank, ICICI Bank, IndusInd Bank and Bajaj Finance, tanking up to 19.98 per cent.

All the sectoral indices too traded with heavy losses led by bank, realty and finance.

Market heavyweights RIL tumbled 11.57 per cent and TCS tanked 5.84 per cent.

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