Investors become poorer by Rs 5 lakh cr as equity markets fall

In six trading sessions to Friday the market capitalisation of BSE-listed companies saw a massive decline of Rs 11,76,985.88 lakh crore.

Investor wealth tumbled by more than Rs 5 lakh crore on Friday as equity markets crashed tracking global equity selloff amid rising uncertainty over the economic impact of coronavirus outbreak.

In six trading sessions to Friday the market capitalisation of BSE-listed companies saw a massive decline of Rs 11,76,985.88 lakh crore.

Equity markets fell for the sixth consecutive session, with the 30-share BSE index plummeting 1,448.37 points, or 3.64 per cent, lower at 38,297.29.

The carnage in the equity market wiped out investor wealth worth Rs 5,46,287.76 crore, taking the total m-cap to Rs 1,46,93,797.43 crore on the BSE.

The m-cap of BSE-listed companies stood at Rs 1,52,40,024.08 crore at the end of trading on Thursday.

Traders said investor sentiments also remained fragile amid incessant foreign fund outflows.

On a net basis, foreign institutional investors sold equities worth Rs 3,127.36 crore on Thursday, data available with stock exchanges showed.

Foreign investors have sold equities worth Rs 9,389 crore so far this week, provisional data on the stock exchanges showed.

On the BSE, 2,010 scrips declined, while 457 advanced and 153 remained unchanged.