New Delhi: Investor wealth Monday eroded by over Rs 2 lakh crore as the markets closed deep in the red.
Led by the sharp drop in the equity market, the market capitalisation (m-cap) of BSE-listed companies dropped Rs 2,00,272.82 crore to Rs 1,50,09,315.18 crore as compared to market capitalisation at Rs 1,52,09,588.00 crore on Friday.
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.
Analysts believe that India's retaliatory ban on certain US goods may stir-up trade war between both countries.
In the previous session on Friday, the 30-share index had settled 289.29 points, or 0.73 percent, lower at 39,452.07, and the broader NSE Nifty tumbled 90.75 points, or 0.76 percent, to close at 11,823.30.
Meanwhile, foreign institutional investors sold equity worth Rs 238.64 crore, while domestic institutional investors bought shares to the tune of Rs 376.47 crore, provisional data available with stock exchanges showed.