Market Jitters: Investors Face Massive Wealth Erosion

Investors lost significant wealth as equity markets fell sharply, with the BSE Sensex dropping 1,192 points. Reliance Industries and foreign investor selling contributed to the downturn. Anticipation of the US elections and interest rate decisions added to market uncertainty. The Muhurat Trading session saw minor gains.

Investors saw their wealth significantly eroded as equity markets took a sharp downturn on Monday. The BSE Sensex tumbled by 1,192 points, with Reliance Industries and continued foreign investor selling exacerbating the losses.

This market volatility was compounded by investors' cautious stance ahead of anticipated events like the US presidential elections and an impending Federal Reserve interest rate decision later in the week. During morning trade, the BSE benchmark nosedived to 78,532.12.

Despite a weak trend in equities, there were some gains noted during the special Muhurat Trading session, where the BSE benchmark rose by 335.06 points. This session marked the onset of the new Samvat 2081 on the Diwali festival.

(With inputs from agencies.)