Investors lose nearly ₹50 lakh cr in 7 weeks
Hindustan Times|November 18, 2024
MUMBAI: Stock market investors have seen their wealth erode by close to ₹50 lakh crore in the past seven weeks amid a flurry of primary market issuances and foreign institutional investor (FII) selling fuelled by India Inc's tepid earnings growth and rising bond yields in US.
Ram Sahgal
Investors lose nearly ₹50 lakh cr in 7 weeks

Though analysts don't rule out a rebound after the brutal sell-off over seven weeks, they doubt the durability of one.

Total investor wealth fell by a whopping ₹47 lakh crore to ₹427 lakh crore on Thursday from record market highs since 27 September when overall market capitalisation was ₹474 lakh crore. The Nifty and Sensex hit record highs of 26,277.35 and 85,978.25 each on 27 September.

From that date Nifty was down 10.4% at 23,532.7 and Sensex by 9.76% at 77,580.31 on Thursday amid huge FII outflows and large supply of equity.

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