Investor wealth plunges over Rs 10 trn; equity markets see massive sell-off

Markets took a heavy beating as the BSE benchmark index plunged 2,991.85 points or 10%-- its lower circuit limit

Investor wealth plummeted by over Rs 10 trillion in the first hour of trade on Monday as the equity markets went into a tailspin and sank 10 per cent. Rising cases of coronavirus (Covid-19) has hit market sentiment negatively, with the equity markets starting the week with a massive selloff.

The market capitalisation of BSE-listed firms dropped by Rs 10,29,847.17 crore to Rs 1,05,79,296.12 crore just before the trading was halted for 45 minutes. Markets took a heavy beating as the BSE benchmark index plunged 2,991.85 points or 10 per cent -- its lower circuit limit.