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Rs 6 lakh crore investor wealth wiped out as crude oil shock roils Sensex, Nifty

Rs 6 lakh crore investor wealth wiped out as crude oil shock roils Sensex, Nifty

Market cap of BSE-listed firms fell by Rs 6.28 lakh crore after investor wealth declined to Rs 240.57 lakh crore against Rs 246.85 lakh crore in the previous session.

Sensex tanked 1,409 points to 52,924 and Nifty slumped 378 points to 15,866 in early trade. Sensex tanked 1,409 points to 52,924 and Nifty slumped 378 points to 15,866 in early trade.

Investors lost over Rs 6 lakh crore in early trade today amid mounting calls for harsher sanctions against Russia. Market cap of BSE-listed firms fell by Rs 6.28 lakh crore after investor wealth declined to Rs 240.57 lakh crore against Rs 246.85 lakh crore in the previous session.

Sensex tanked 1,409 points to 52,924 and Nifty slumped 378 points to 15,866 in today's trade. Of 30 Sensex shares, 29 were trading in the red. Tata Steel was the sole gainer, rising 0.12% in early trade.

Sensex and Nifty  are trading in the red for the fourth straight session as markets gauge the impact of Russia-Ukraine war on the global economy.

Share Market LIVE: Sensex crashes over 1400 pts, Nifty below 15,900 amid weak global cues

With brent crude oil price touching $130 per barrel overnight due to harsher sanctions on Russia, the recovery in the global economy post the Covid-19 pandemic is likely to be derailed.

NSE VIX, the market's volatility index, rose 7.40% to 30.04 signalling heightened volatility in early trade.

Sensex is now down 9.30% or 5417 points and Nifty has plunged 6.39% or 1108 points since the beginning of this year. However, Sensex has gained 4.91% or 2,477 points and Nifty has risen 8.75% or 1,307 points in the last one year.

Published on: Mar 07, 2022, 9:29 AM IST
Posted by: Aseem Thapliyal, Mar 07, 2022, 9:24 AM IST