Investors’ wealth plunges over 5.59 lakhcrore in three days of market decline

The market capitalization of companies listed on the BSE fell by £5,59,623.71 billion to £2,46,79,421.38 billion in three days

The market capitalization of companies listed on the BSE fell by £5,59,623.71 billion to £2,46,79,421.38 billion in three days

Investor fortunes plunged more than 5.59 lakhcrore in three days of market decline as sentiment remained subdued amid the Russia-Ukraine conflict and its impact on the global economy.

The BSE gauge continued its decline for the third day on Friday, falling 1,214.96 points, or 2.20%, to 53,887.72 on the day. It settled at 54,333.81, down 768.87 points, or 1.40%. In three days, the reference index fell 1,913.47 points, or 3.40%.

The market capitalization of companies listed on the BSE fell by £5,59,623.71 billion to £2,46,79,421.38 billion in three days.

“Markets ended the week on a sharp tumble, reflecting weak global sentiment. After the sharp reaction in early trading, the benchmark oscillated in the broader range to eventually settle around the daily low,” said Ajit Mishra, Vice President (Research) from Religare Broking Limited, said.

In Friday trading, Titan, Maruti Suzuki India, Asian Paints, Mahindra & Mahindra and Hindustan Unilever Limited were the biggest drags on the Sensex, falling as low as 5.05%.

In the broader market, the BSE mid-cap and small-cap indices also faced heavy selling, falling as low as 2.36%. All BSE sector indices also ended with deep falls, with autos, metals, consumer discretionary & services, consumer discretionary and housing being the hardest hit, falling as low as 3.40%.

In the previous session, the 30-stock BSE Index closed down 366.22 points, or 0.66%, at 55,102.68.

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