Investor wealth erode by over Rs 0.83 lakh crore as as stocks plummet

Led by the sharp fall in the equity market, the market capitalisation of BSE-listed companies dropped Rs 83,434.19 crore to Rs 1,50,47,206.54 crore on Friday.

Investor wealth erode by over Rs 0.83 lakh crore as as stocks plummet

New Delhi: Investor wealth Monday eroded by over Rs 0.83 lakh crore as the markets closed deep in the red dragged by losses in index heavyweights Maruti, HDFC, RIL, ITC, and HUL.

Led by the sharp fall in the equity market, the market capitalisation (m-cap) of BSE-listed companies dropped Rs 83,434.19 crore to Rs 1,50,47,206.54 crore as compared to  market capitalisation at Rs 1,51,30,670.73 crore on Thursday (June 20).

The BSE Sensex closed 491.28 points or 1.25 percent down at 38,960.79 while the NSE Nifty tanked 151.15 points or 1.28 percent down at 11,672.15.

The BSE Sensex tanked 407.14 points or 1.03 percent to close at 39,194.49 while the NSE Nifty dropped 107.65 points or 0.91 percent to 11,724.10.

Investors are also awaiting the outcome of GST Council meet later during the day. This is the first GST Council meeting after Modi 2.0 took charge last month and is being held just two weeks before the presentation of Union Budget 2019.

On a net basis, foreign institutional investors sold equity worth Rs 438.41 crore, while domestic institutional investors purchased shares to the tune of Rs 1,241.23 crore, provisional data available with stock exchanges showed on Thursday.