Investor wealth tumbles Rs 6.27 trillion as markets tank after RBI meet

Home, auto and other loan EMIs are likely to increase after the Reserve Bank of India (RBI) hiked its key interest rate by 40 bps in a surprise move on Wednesday in an effort to tame inflation

Investor wealth tumbles Rs 6.27 trillion as markets face heavy drubbing after RBI surprise. Investors became poorer by over Rs 6.27 lakh crore on Wednesday as markets crashed after the RBI hiked the policy rate by 40 bps in a surprise move.

The 30-share BSE benchmark Sensex tumbled 1,306.96 points or 2.29 per cent to settle at 55,669.03. During the day, it plummeted 1,474.39 points or 2.58 per cent to 55,501.60.

In tandem with the slump in equities, the market capitalisation of BSE-listed firms tumbled Rs 6,27,359.72 crore to stand at Rs 2,59,60,852.44 crore.

Home, auto and other loan EMIs are likely to