Stock Market Today: Investors’ wealth tumbles over Rs 5.91 lakh cr in morning commerce

Investors’ wealth tumbled over 5.91 lakh crore in morning commerce on Monday monitoring heavy decline in equities amid intensifying battle between Russia and Ukraine.

Persevering with its decline for the fourth day on Monday, the BSE gauge plummeted 1,735.98 factors or 3.19 per cent to 52,597.83, monitoring weak world equities and elevated crude oil costs.

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In tandem with the heavy plunge in equities, the market capitalisation of BSE-listed corporations plunged by Rs 5,91,094.71 crore to Rs 2,40,88,326.67 crore in morning offers.

Maruti Suzuki India, Indusind Financial institution, State Financial institution of India and Axis Financial institution emerged as the largest drag from the 30-share BSE Sensex pack, tanking as much as 6.72 per cent.

“The extraordinary uncertainty triggered by the war has pushed commodity markets into turmoil. Crude at USD 128 is a big shock. This can impact global growth and aggravate inflationary pressures. Market is slipping into bearish territory,” in accordance with V Ok Vijayakumar, Chief Funding Strategist at Geojit Monetary Providers.

Worldwide oil benchmark Brent crude surged 8.84 per cent to USD 128.6 a barrel.

Overseas institutional buyers continued their promoting spree in Indian markets as they offloaded shares value Rs 7,631.02 crore on a web foundation on Friday, in accordance with trade knowledge.

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