Investors' wealth tumbled by Rs 7.46 lakh crore in morning trade on Friday, in-tandem with a sharp decline in the domestic equity market, with the benchmark Sensex plunging over 1,000 points following a bearish trend in global equities.
Fresh tariff threats that ignited global trade war fears and relentless foreign fund outflows dented investor sentiment.
The 30-share BSE benchmark gauge tumbled 1,032.99 points or 1.38 per cent to 73,579.44 during morning trade.
Following the sharp decline in equities, the market capitalisation of BSE-listed firms eroded by Rs 7,46,647.62 crore to Rs 3,85,63,562.91 crore (USD 4.42 trillion) in morning trade.
From the Sensex pack, Tech Mahindra, IndusInd Bank, Maruti, HCL Tech, Tata Consultancy Services, Infosys, Mahindra & Mahindra and Titan were the biggest laggards.
Axis Bank, HDFC Bank, Reliance Industries and Adani Ports were the gainers from the pack.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading with deep cuts.
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