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Stocks dip, investors’ wealth tumbles Rs 86,742 crore

Investors’ wealth fell by Rs 86,741.74 crore on Wednesday, reflecting weakness in global equity markets amid rising tensions between Russia and Ukraine.

The BSE benchmark Sensex ended the day down 1,227.18 points at 55,020.10, in line with global selling. It finally closed at 55,468.90, down 778.38 points or 1.38 per cent. A rise in crude oil prices and foreign capital outflow also weighed on investor sentiment.

The market capitalization of BSE-listed companies fell by Rs 86,741.74 crore to Rs 2,51,52,303.35 crore.

“Indian markets were hit with a double whammy today with geopolitical tensions being a major headwind, while sharp jump in crude prices poses a major risk to the Indian market as Brent crude crossed the $110 mark.

Santosh Meena of Swastika Investmart Ltd said, “If we look at the headline index, the market was looking very weak but the broader market saw some buying from lower levels.

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