Market Turmoil: Rs 7.46 Lakh Crore Wiped Out in Equity Implosion

Investors faced significant losses as their wealth decreased by Rs 7.46 lakh crore amid a steep decline in the domestic equity market. The Sensex plunged over 1,000 points due to bearish global trends and escalating tariff threats. Key stocks took a hit while the market capitalization of BSE-listed firms eroded significantly.

Investors suffered a staggering blow as wealth plummeted by Rs 7.46 lakh crore during Friday morning trade, mirrored by a sharp dip in the domestic equity market. The Sensex index nosedived over 1,000 points amidst a bearish global trend.

Tensions escalated with new tariff threats fuelling global trade war fears and persisting foreign fund outflows, severely rattling investor sentiment. The Sensex dropped 1,032.99 points, representing a 1.38% decline to 73,579.44.

Amid this turmoil, market capitalization for BSE-listed companies eroded to Rs 3,85,63,562.91 crore. Major market players, including Tech Mahindra and Maruti, faced losses whereas Axis Bank and HDFC Bank were among the few gainers. Asian markets also were severely affected.

(With inputs from agencies.)