Investor wealth plummets Rs 5.15 lakh crore in early trade as equities tank

Investors witnessed a wealth erosion of Rs 5.15 lakh crore in BSE-listed companies in morning trade on Monday tracking heavy selloff in the market, with benchmark Sensex plunging over 1,700 points.

The BSE barometer tanked 1,752.55 points to a low of 31,965.07 in early trading session.

Led by the weak trend in the equity market, the market capitalisation of BSE-listed companies fell by Rs 5,15,308.99 crore to Rs 1,24,26,311.83 crore.

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ICICI Bank was the top laggard in the Sensex pack, tumbling nearly 9 per cent, followed by IndusInd Bank, Bajaj Finance, Tata Steel and HDFC.

Sun Pharma was the sole gainer in the BSE index.

Selloff in other Asian equities also played major lower in dragging sentiments lower.

During the last week that was holiday-shortened, the BSE barometer rallied 2,390.40 points or 7.63 per cent.