Investor wealth erode by over Rs 5.55 lakh crore in 2 days as markets end deep in red

New Delhi: Investor wealth eroded by over Rs 5.55 lakh crore in over two days as the markets closed deep in the red, sliding for the second day on Monday.

Led by the sharp fall in the equity market, the market capitalisation (m-cap) of BSE-listed companies dropped Rs 5,55,707.85 to Rs 1,48,02,367.68 (provisional data) as compared to market capitalisation at Rs 1,53,58,075.53 on July 04 (Thursday). On Friday, the M-cap was at Rs 1,51,35,495.86.

The BSE Sensex fell 792.82 points or 2.01 percent to 38,720.57 while the NSE Nifty closed 252.55 points or 2.14 percent to 11,558.60 on poor investor sentiment on followed by Union Budget proposals and global-sell off.

Analysts also believe that caution ahead of the June quarter earnings season also led to the market fall.

Intra-day sensex touched a high of 39,476.38 and low of 38,605.48 while the Nifty shuttled between high of 11,771.90 and low of 11,523.30.

On a net basis, foreign institutional investors sold equities worth Rs 89.38 crore, while domestic institutional investors purchased shares to the tune of Rs 275.63 crore, provisional data showed.