Investor wealth falls Rs 3.30 trn as markets tank on negative oil sentiment
Investor wealth on Tuesday fell by Rs 3,30,408.87 crore after equity markets came under heavy selling pressure following sell-off in global stocks as rout in crude oil hit investor sentiment.
The Sensex tumbled 1,011.29 points, or 3.20 per cent, to close at 30,636.71.
Led by the sharp fall in the index, the market capitalisation of the BSE-listed companies dropped Rs 3,30,408.87 crore to Rs 1,20,42,172.38 crore.
“After the US crude oil crash, Indian markets, in sync with global markets traded negatively, as the extent of the impact of lockdowns and the global slowdown is becoming evident. Corporate earnings have also been impacted by the pandemic related shutdowns. Post-earnings management guidance has also not given clear indication about the recovery path,” Vinod Nair, head of research at Geojit Financial Services, said.
