Early Thursday market crash wipes rs 5 lakh crore of investors’ wealth
New Delhi, May 19: Equity investors became poorer by over Rs 5 lakh crore in early trade on Thursday as domestic benchmark indices tumbled, mirroring weak trends in global equities, news agency PTI reported.
The 30-share BSE benchmark Sensex tanked 1,154.78 points to 53,053.75 in early deals tracking weak global markets, persistent foreign fund outflows and a spurt in crude oil prices.
The weak broader market trend pulled down the market capitalisation of BSE-listed firms by Rs 5,02,731.03 crore to Rs 2,50,74,714.78 crore in early trade.
The biggest laggards were the Sensex firms, Tech Mahindra, Infosys, Wipro, HCL Technologies, IndusInd Bank, and TCS. ITC emerged as the only gainer from the 30-share pack.
Asian markets in Seoul, Shanghai, Hong Kong and Tokyo were trading lower.