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Investors’ wealth slumps over Rs 8 lakh crore in morning trade

Investors’ wealth slumps over Rs 8 lakh crore in morning trade

Investors’ wealth tumbled by more than Rs 8 lakh crore in less than an hour of trade on Thursday, as Russia’s attack on Ukraine pushed stock markets deep into the red.

Amid investors getting spooked by the escalating tensions between Ukraine and Russia, the market capitalisation of BSE-listed companies crashed to Rs 2,47,46,960.48 crore at around 10.15 am.

investors' wealth slump over rs 8 lakh crore in morning trade - the financial express

At close of trade on Wednesday, the market capitalisation, an indicator of notional wealth of investors, was at Rs 2,55,68,668.33 crore. This reflects a wealth erosion of more than Rs 8.2 lakh crore.

Domestic equity gauges Sensex and Nifty crashed over 3 per cent in early morning deals on Thursday following massive selloffs in global share markets after Russia announced military operation in Ukraine.

stock market fall: sensex slips more than 380 points, nifty closed at 17000 level

The BSE Sensex tanked 1,718.99 points or 3 per cent to 55,513.07; and the Nifty plunged 508.85 points or 2.98 per cent to 16,554.40.

Russian President Vladimir Putin on Thursday announced a military operation in Ukraine. In a televised address, Putin said the responsibility for bloodshed lies with the Ukrainian “regime”. Putin warned other countries that any attempt to interfere with the Russian action would lead to consequences they have never seen .

russia makes moves to ease ukraine tensions; west skeptical - inventiva 1

Meanwhile, US President Joe Biden has warned that the world will hold Russia accountable for the death and destruction due to the “unprovoked” and “unjustified” attack on Ukraine and the US and its allies will respond in a “united and decisive” way.

 

Article Proofread & Published by Gauri Malhotra.

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