Rs 3.2 trn of investor wealth wiped off. Why did the Sensex fall on Friday?

The market's confidence has been shaken as persistently elevated levels of commodity prices, and disrupted supply chains continue to be a double whammy for the economy and companies alike.

Five months into calendar year 2022, equity markets still continue to be on slippery ground. June, too, has begun on a volatile note as investors tread cautiously amid soaring inflation and rising rates. On Friday, the markets lost ground with the S&P BSE Sensex and Nifty 50 indices sinking up to 1.8 per cent each and eroding around Rs 3.2 lakh crores of investor wealth, showed data on BSE.

A day after ending on a positive note, the Sensex dropped 1,017 points and the Nifty slipped 284 points to close at 16,193 level on Friday.

The market’s confidence has been