Investor wealth erodes by Rs 5.82 lakh crore as Sensex plummets over 2000 points

New Delhi: Investors witnessed a wealth erosion of Rs 5.82 lakh crore in BSE-listed companies on Monday as markets saw huge crash at close.

Led by the weak trend in the equity market, the market capitalisation of BSE-listed companies fell by 5,82,695.93 crore to Rs 1,23,58,924.89 crore as compared to 1,29,41,620.82 lakh crore on Thursday (April 30). Markets were closed on account of Labour on May 1 (Friday).

The BSE Sensex tanked 2002.27 points or 5.94 percent to 31,715.35 while the NSE Nifty crashed 566.40 points or 5.74 percent to 9,293.50.

The bloodbath in the market were impacted by the round three of the nation-wide lockdown to contain the COVID-19 Pandemic. India has been on lockdown since May 24 to fight the COVID-19 pandemic. The government last week extended the nationwide lockdown till May 17.

Auto and financial stocks have been the worst hit in today’s market crash. Several automobile major reported zero sales for the month of April owing to lockdown.

Other than Bharti Airtel and Sun Pharma, all the other stocks in the Sensex pack ended in the red. Major Laggards were ICICI Bank, Bajaj Finance, HDFC, IndusInd Bank, Axis Bank, Maruti, Tata Steel, Titan, Tech Mahindra, HDFC Bank, Heromoto Corp, Bajaj Auto, falling upto 10.96 percent.