Investors’ wealth on Thursday eroded by Rs 7.34 lakh crore as markets took a heavy beating, with the BSE Sensex tumbling 1,062.22 points.
Declining for the third day running, the 30-share BSE benchmark dropped 1,062.22 points or 1.45 per cent to settle at 72,404.17. During the day, it tanked 1,132.21 points or 1.54 per cent to 72,334.18.
The market capitalisation of BSE-listed companies eroded by Rs 7,34,513.48 crore to Rs 3,93,34,896.14 crore (USD 4.71 trillion).
On May 2, the mcap of BSE-listed firms reached an all-time peak of Rs 4,08,49,767.90 crore.
“Markets buckled under relentless selling pressure as investors turned risk averse in the ongoing poll season and further lightened their equity exposure to avoid being caught off guard. As the election season is heating up, investors are trimming their equity exposure at a faster pace, which can be seen from the drubbing that mid and small-caps received,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
From the Se
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