Investor wealth falls by Rs 3.35 lakh crores

New Delhi: Equity market investors have lost over Rs 3.35 lakh crore in two days as sentiment remained weak amid a steady rise in coronavirus cases in the country.

The 30-share BSE barometer Sensex plunged 1,375.27 points or 4.61 per cent to close at 28,440.32 on Monday. On Friday, it had fallen by 131.18 points.

Led by the two-day decline in equities, the market capitalisation of BSE-listed companies dropped by Rs 3,35,192.89 crore to Rs 1,09,63,832.17 crore.

"While the coordinated stimulus action from governments around the world has offered some respite, the volatility in the market is likely to continue as there is no certainty as to how long the problem will persist and its repercussions on the economy.

"It would continue to track the trend in coronavirus cases globally and the economic impact of lockdowns undertaken by several countries," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Among Sensex constituents, 24 closed the day lower. Bajaj Finance was the top drag, falling nearly 12 per cent, followed by HDFC, Tata Steel, HDFC Bank and ICICI Bank.