Markets Tumble as Investor Wealth Shrinks by Rs 4.12 Lakh Crore

Investors witnessed a significant drop of Rs 4.12 lakh crore in wealth during Friday morning trade as markets saw a massive correction. The 30-share BSE Sensex fell by 896.7 points tracking weak global trends and foreign fund outflows. Notable laggards included SBI, HCL Technologies, and Reliance Industries.

Investors' wealth took a significant hit, plummeting by Rs 4.12 lakh crore during Friday morning trade as markets experienced a substantial correction. The downturn was influenced by weak trends among global peers and a fresh wave of foreign fund outflows.

The 30-share BSE Sensex continued its downward trajectory for the third consecutive day, dropping 896.7 points or 1.09 percent to 81,304.46. This decline follows the benchmark's all-time high of 82,725.28 reached on Monday.

Amid the bearish trend in equities, the market capitalization of BSE-listed firms tumbled by Rs 4,12,152.83 crore, reaching Rs 4,61,56,748.42 crore (USD 5.50 trillion). Prominent laggards included State Bank of India, HCL Technologies, and Reliance Industries. While Bajaj Finance, Asian Paints, and Hindustan Unilever managed to remain in the green, Asian markets like Seoul, Tokyo, Shanghai, and Hong Kong also traded lower. The US markets, meanwhile, closed mostly in negative territory on Thursday.

(With inputs from agencies.)