Investor wealth tumbles Rs 6.98 lakh crore in two days of market fall

Investors witnessed a wealth erosion of Rs 6,98,419.77 crore in two days of market fall as benchmark indices failed to hold onto early gains on Tuesday and closed lower.

The BSE benchmark ended at 31,453.51, down 261.84 points or 0.83 per cent on Tuesday.

The BSE barometer had tanked 2,002.27 points or 5.94 per cent on Monday.

Following the two-day fall in equities, the market capitalisation of BSE-listed companies plunged by Rs 6,98,419.77 crore to Rs 1,22,43,201.05 crore.

“Markets traded volatile with benchmark indices closing negative. Losses were led by financials. Markets are trading uncertain regarding the impact of lockdown measures and its effect on earnings,” Geojit Financial Services Head of Research Vinod Nair said.

In the broader market, the midcap and smallcap indices dropped 0.97 per cent each.

“The benchmark indices ended with a cut of over half a per cent, in line with the previous day’s slide. Initially, the bias was

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