Investor wealth has eroded by over Rs 7 lakh crore in two days of market crash as sentiment remained muted amid rising COVID-19 cases in the country.
The 30-share BSE Sensex tumbled 740.19 points or 1.51 per cent to close at 48,440.12 on Thursday. In two days, the benchmark index has plunged 1,611.32 points or 3.21 per cent.
Tracking the weak sentiment, the market capitalisation of BSE-listed companies declined by Rs 7,00,591.47 crore to Rs 1,98,75,470.43 crore in two days.
"The selling pressure has intensified in the last couple of sessions owing to weak global cues and concerns over the second wave of COVID cases," said Ajit Mishra, VP - Research, Religare Broking Ltd.