Investors' wealth sinks over Rs 4 tn in morning trade as markets decline

Investors' wealth tumbled by more than Rs 4 lakh crore in morning trade on Friday as markets suffered a steep decline.

Continuing its decline for the second day, the BSE gauge plummeted 1,148.05 points or 2 per cent to 53,954.63.

Tracking decline in equities, the market capitalisation of BSE-listed companies plunged Rs 4,09,554.44 crore to Rs 2,46,96,434.57 crore in morning deals.

Asian Paints, Maruti Suzuki India, Hindustan Unilever, Titan and M&M were the biggest drag in morning trade, tumbling up to 6.8 per cent.

In the previous session, the 30-share BSE index finished 366.22 points or 0.66 per cent lower at 55,102.68.

"The war and surge in crude have completely transformed the economic scenario and market expectations. If the war prolongs, global economic growth may be impacted," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.