Nifty50 erases nearly Rs 6 lakh crore from investor wealth shortly after opening

Investors' wealth on tuesday witnessed a significant slump amid the volatile start of the share markets. Companies in the NSE Nifty 50 witnessed a Rs 6 lakh crore erosion in the wealth shortly after the share market opening.

As per NDTV Profit, the market cap of these companies decreased by Rs 5.92 lakh crore to Rs 180.13 lakh crore as of 09:30 a.m. Meanwhile wealth of the companies in the Sensex eroded over Rs 3 lakh crore in market cap. As of 10 am, Market cap of S&P BSE companies declined to Rs 147.63 lakh crore.

Share market crash

The stock market on Tuesday opened lower declining over 3% during the intra day trading. Heavyweights including Reliance Industries, HDFC Bank, Larsen & Toubro, State Bank of India, and ICICI Bank dragged the benchmark NSE Nifty 50.

On NSE all the 12 sectors declined with the NSE Nifty PSU Bank tumbling nearly 7% to become the worst sector. The NSE Nifty Pharma recorded least fall among peers.

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