Rs 1 lakh cr of investor wealth destroyed by stock market crash today

Investor wealth eroded by over Rs 1 lakh crore Monday following a weak broader market where the BSE benchmark index tumbled more than 505 points to slip below the 38,000 mark. Following the sharp fall in stocks, the market capitalisation (m-cap) of BSE-listed companies dropped by Rs 1,14,676.15 crore to Rs 1,55,22,343 crore. The 30-share key index plunged 505.13 points or 1.33 per cent to end at 37,585.51.

Escalating trade war tensions between the US and China, as well as the rupee worries have dented the market sentiment, experts said. The Indian currency once again breached the 72-mark to hit a low of 72.69 (intra-day) against the US dollar. From the 30-share basket, 25 stocks ended with losses led by Sun Pharma, HDFC, Tata Motors and Reliance Industries Limited.

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At the BSE, 1,441 stocks declined, while 1,282 advanced and 191 remained unchanged. Also, more than 140 stocks hit their 52-week low levels Monday on BSE.