Stock Market plunge washes away Rs. 4.95 lakh cr investor wealth

The stock market plunge on Tuesday morning washed away Rs 4.95 lakh crore of investor wealth.

According to Moneycontrol, following the downfall, total market capitalization of Bombay Stock Exchange (BSE) listed companies eroded by Rs. 4,94,766 crore to Rs. 1,43,00,981 crore.

Extending its freefall for the sixth straight session, the 30-share BSE fell by 1,274.35 points, to 33,482.81 with all sectoral indices, including realty, consumer durables, metal and banking tradings in the negative zone.

In the wake of Wall Street's biggest one-day decline since 2011, the crude oil futures also extended their slump.

The Indian Rupee too is trading at its lowest level since December 2017.

The rupee plunged 29 paise in the early trade. It opened at Rs. 64.35 per dollar as against Rs. 64.06 on Monday.

Earlier in the day, the Dow Jones Industrial Average fell 1,175.21 points to 24,345.75.

The S&P 500 lost 113.19 points or 4.10 percent to 2,648.94 and the Nasdaq dropped 273.42 points to 6,967.53.

-ANI