More than the fall in the wealth of investors Indian markets were spared Rs 8.47 lakh crore on Monday due to the slowdown in global markets due to Ukraine crisis.
The NSE Nifty 50 index ended 3.06% lower at 16,842.80, while the S&P BSE Sensex fell 3% to 56,405.84, both marking their worst day since mid-April 2021.
Reflecting this path, the market capitalization of BSE-listed companies or the wealth of fictitious investors fell sharply. 8,47,160.93 Cr to 2,55,42,725.42 crores.
Global equities were also under strong pressure today, while crude extended gains as geopolitical risks on Ukraine rippled through global financial markets, raising demand for safe-haven assets. Gold on MCX today reached the highest level of almost three months.
After heavy selling on Friday, the domestic market remained in the red for the second consecutive session, leading to a fall in the overs. 3.91 lakh crore in investors’ assets.
In just two sessions, the total investor wealth has fallen more than 12 lakh crore.
“Emotions have turned very negative in the short term with heightened tensions over the Ukraine crisis. Weakness in global markets is a direct result of the Ukraine crisis,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
The Indian rupee today fell 20 paise to 75.56 against the US dollar in early trade on Monday amid geopolitical tensions pushing investors towards the greenback’s safe haven.
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