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Investor wealth erodes by Rs 6.25 lakh crore on coronavirus scare

NEW DELHI: Investor wealth worth Rs 6.25 lakh crore was wiped off in early morning trade on Monday as markets witnessed yet another sell-off, with the BSE benchmark plunging 2,182.41 points as Covid-19 scare continued to hit sentiment.

The market capitalisation of BSE-listed companies dropped by Rs 6,25,501.8 crore to Rs 1,23,00,741.02 crore in the opening trade.

The drop in investor wealth was led by extremely weak market sentiment, where the BSE Sensex witnessed another plunge after staging a strong comeback on Friday.

The entire BSE 30-share pack was trading in the red, led by IndusInd Bank, ICICI Bank, HDFC and Axis Bank, tumbling up to 9.3 per cent.

Market heavyweight Reliance Industries was also trading over 3 per cent lower, which was also instrumental in dragging the benchmark lower.

All the sectoral indices were trading with sharp losses. The equity markets suffered extreme panic selling last week, where the key BSE barometer plunged 3,473.14 points in total.