Investors' wealth eroded by Rs 2.25 lakh crore on Friday, the day when the BSE Sensex tanked 733 points, amid profit-taking and worries over premium valuations of local stocks.
The 30-share BSE benchmark dropped 732.96 points or 0.98 per cent to settle at 73,878.15 after soaring 484.07 points earlier in the day. From its intra-day high of 75,095.18, the benchmark tanked 1,627.45 points to the day's low of 73,467.73.
The market capitalisation of BSE-listed companies eroded by Rs 2,25,543.41 crore to Rs 4,06,24,224.49 crore (USD 4.89 trillion).
"Markets failed to capitalise on the firm start despite upbeat US and European cues and crashed on the back of broadbased selling, as investors worried over premium valuations of local stocks offloaded their holdings. Weakness in banking, telecom, oil & gas and realty stocks led the slump, even as Dow Futures indicated an upbeat start.
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