The bloodbath on Dalal Street erodes almost the wealth of investors of Rs 5 lakh crore

NEW DELHI: The domestic market plummeted by almost Rs 5 lakh crore on Friday when stock markets collapsed tracing global stock sales amid growing uncertainty about the economic impact of the coronavirus outbreak.

The market capitalization (m-cap) of listed companies in the BSE experienced a massive decline after the 30-share index sank 1,100.27 points, or 2.77 percent, to 38,645.39, and the NSE Nifty broke 329.50 points, or 2.83 percent, at 11.303.80.

The carnage in the stock market ended the wealth of investors worth Rs 4.65,915.58 rupees, bringing the total cap to Rs 1.47.74,108.50 rupees in BSE.

The maximum limit of companies listed on the BSE was Rs 1,52,40,024.08 rupees at the end of Thursday's negotiation.

Everybody sensex the components were traded in red, led by losses in Tata Steel, Tech Mahindra, Infosys, Mahindra and Mahindra, Bajaj Finance, HCL Tech and Reliance Industries.

Traders said investors' feelings also remained fragile amid the incessant outflows of foreign funds. On a net basis, foreign institutional investors sold shares worth Rs.3127.36 million on Thursday, data available on the stock exchanges showed.

Foreign investors have sold shares worth Rs 9,389 million rupees so far this week, provisional data on stock exchanges showed.

In BSE, 1,602 scripts decreased, while 183 advanced and 62 remained unchanged.

In the broader market, the BSE SmallCap index fell 3.45 percent, while the BSE MidCap index decreased 3.53 percent.