Investors lose Rs 19.5 lakh crore as Sensex tumbles 3,300 pts in five sessions

Investors lost over Rs 19 lakh crore in the last five trading sessions as Indian stock market closed in the red today in line with negative global cues. Market wealth of BSE-listed firms shrinked by Rs 19.54 lakh crore to Rs 260.48 lakh crore today against Rs 280.02 lakh crore market cap on January 17.

The decrease in market wealth comes after the 30-stock Sensex has lost 3,367 points since January 17 this year. Sensex closed at 57,491 today, down 1,545 points against the closing level of 61,308 on January 17.

Similarly, Nifty has tumbled 1,159 points in five days. The index closed at 17,149, down 468 points today against the 18,308 level on January 17.

Concerns over global inflation and likely Fed rate hike have pulled the Indian market lower for the fifth consecutive day.  The rising bond yields in the US have prompted foreign investors to withdraw funds from highly valued markets like India, said analysts.

Sensex tumbled 2,039 points intra day today to 56,984 against the previous close of 59,037. The 30-stock index partially pared losses in the last 30 minutes of trade to end 1,545 points lower.

Similarly, Nifty tumbled 620 points intra day to 16,997, before recovering losses partially.

India VIX surged 20.80% to 22.82 today, signaling heightened volatility in the stock market.