Sensex plunges 509 points, wipes out Rs 1.86 lakh cr of investor wealth

Investor wealth saw an erosion of Rs 1.86 lakh crore amid a massive sell-off in the broader market where the BSE benchmark index cracked 509.54 points. Led by the heavy sell-off in equities, market capitalisation of BSE-listed companies plummeted Rs 1,86,415.38 crore to Rs 1,43,17,308 crore. The 30-share index tanked 509.54 points, or 1.51 per cent, to close at 33,176 on global trade worries and domestic political concerns.

From the Sensex basket, Tata Motors emerged as the worst performer by slumping 3.67 per cent, followed by Asian Paints that fell 3.06 per cent. In the broader market, the BSE mid-cap index fell by 1.07 per cent while the small-cap index shed 1 per cent. All the sectoral indices, led by metal, oil & gas, energy, PSU, power and banking, ended in the negative zone with losses of up to 2.30 per cent.

"Market slid as investors continued to remain cautious amid current issues in the US administration on global trade and domestic political uncertainties. Selling was broad-based, the metal index lost its sheen, while PSU banks somehow managed to stabilise with a slight decline," said Vinod Nair, Head of Research, Geojit Financial Services. On the BSE, 36 stocks hit their 52-week highs, while 108 touched one-year lows.

Also, a total of 1,835 stocks declined, while 859 advanced and 154 remained unchanged.