Market Mayhem: Investors Lose Over Rs 5.49 Lakh Crore Amid Global Sell-Off

Investors' wealth fell sharply by Rs 5.49 lakh crore as markets faced significant corrections due to weak global trends and foreign fund outflows. The BSE Sensex dropped 1,017.23 points, continuing a three-day decline. Concerns over a potential US economic slowdown and its impact on Federal Reserve policies added to the market's woes.

Investors' wealth plummeted by Rs 5.49 lakh crore on Friday, driven by a massive correction in markets tracking a weak trend in global peers and fresh foreign fund outflows.

Continuing a three-day decline, the 30-share BSE Sensex tumbled 1,017.23 points or 1.24 percent to settle at 81,183.93. At its lowest during the session, it plunged 1,219.23 points or 1.48 percent to 80,981.93.

Following a weak trend in equities, the market capitalization of BSE-listed firms slumped by Rs 5,49,925.16 crore to Rs 4,60,18,976.09 crore (USD 5.48 trillion).

(With inputs from agencies.)