Investors’ wealth eroded by Rs 6 lakh crore in a single day on Wednesday as the BSE benchmark Sensex tumbled over 790 points.
The 30-share BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88. During the day, it slumped 872.93 points or 1.19 per cent to 72,222.29.
The market capitalisation (mcap) of BSE-listed companies eroded by Rs 6,02,338.56 crore to Rs 3,85,97,298.49 crore (USD 4.71 trillion).
“Investors resorted to heavy selling ahead of Thursday’s F&O expiry. Weak Asian market cues and Dow Futures indicating a negative start also led to a massive round of profit-taking across the board as benchmark Sensex closed below the crucial 73k mark.
“The pessimism can also be attributed to lack of direction ahead of Thursday’s release of the January US Personal Consumption and Expenditures (PCE) index, the Fed’s preferred measure of inflation that tracks consumer spending,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Among the Sensex firms, …
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