LIVE! Investors' wealth tumbles Rs 2.21L crore

September 14, 2022 10:49

Investors' wealth eroded by more than Rs 2.21 lakh crore in early trade on Wednesday, with the market witnessing a selling-off amid prospects of aggressive rate hikes by the US Federal Reserve to tackle high inflation, and sluggish global trends.

In less than hour of the start of trading on Wednesday, the key indices -- Sensex and Nifty -- were deep in the red and witnessed significant volatility, reflecting jittery investor sentiments.

The market capitalisation of BSE-listed companies, which is also an indicator of wealth of investors, tumbled more than Rs 2.21 lakh crore to Rs 2,84,49,727.56 crore amid the 30-share Sensex falling 564.76 points to 60,006.32 points.

On Tuesday, when the markets had gained for the fourth straight session, the market valuation stood at Rs 2,86,71,193.94 crore. Global markets went into a tizzy on Tuesday soon after the US inflation data for the month of August triggered concerns over the possibility of further rate hikes by the US Federal Reserve.

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