Investor wealth dips over Rs 1 lakh cr in stock market slump

Investor wealth slumped by Rs 1.33 lakh crore (Rs 1.33 trillion) on Wednesday amid massive sell-off in the stock market as rout in Shanghai shares and fears of Greece's eurozone exit rattled investors. The BSE benchmark Sensex ended with a loss of 483.97 points at 27,687.72.

This is the biggest one-day fall of the Sensex since a plunge of 661 points recorded over a month ago on June 2.

The broader NSE Nifty closed the day 147.75 points down at 8,363.05. Following the weakness on the stocks, the market capitalisation of BSE listed companies fell by Rs 1,33,372 crore or Rs 1333.72 billion to Rs 1,02,55,829 crore or Rs one trillion.

"Markets worldwide corrected on the back of concerns about a probable exit of Greece from eurozone and new renewed fears over Chinese markets," said Hiren Dhakan, Associate Fund manager, Bonanza Portfolio.

Among the 30-Sensex components, barring Hindustan Unilever, others ended with losses led by Vedanta Ltd, Tata Motors, Hindalco and Tata Steel. Sectorally, the metal index fell the most, followed by auto, realty, banking, PSU, oil and gas and IT.

At the BSE, 1,791 stocks declined, while 948 advanced. 110 stocks remained unchanged.