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200 billion dollars wiped off from Indian equities since Union budget

Aug 02, 2019 11:42 IST

Indian equities have wiped off 200 billion dollars after the Modi government’s budget on the 5th of July moved to increase taxes, and came off as low on growth ideas. The negative sentiment has eroded investor wealth worth Rs 14 lakh crore on the BSE, and the Sensex has tumbled more than 8 percent during the period. Muted corporate earnings and the ongoing credit crunch have also been a drag on sentiment. Traders feel a lack of hope on policies and global strife have led to a breakdown in the market with FIIs selling continuously.

National