Investors become poorer by over Rs 3 lakh crores

New Delhi: Investor wealth tumbled by a whopping Rs 3.36 lakh crore in two successive sessions of decline in the equity market following escalation in tensions in the Middle East.

Led by the weakness in equities in two consecutive trading sessions, the market capitalisation of BSE-listed companies plunged by Rs 3,36,559.82 crore to Rs 1,53,90,312.60 crore.

"Indian markets started the week on a negative note amid escalation of geopolitical tensions between the US and Iran.

Rising crude oil prices and adverse rupee movement too impacted the sentiments," Religare Broking Ltd VP - Research Ajit Mishra said.

"Amongst the broader markets, BSE midcap and smallcap underperformed.

All the sectoral indices witnessed heavy selling pressure and ended with losses wherein auto, banking and metals were the top losers," he added.

US President Donald Trump on Sunday vowed "major retaliation" if Iran tries to avenge the killing of its key military commander Qasem Soleimani.

Brent crude oil futures surged nearly 2 per cent to $69.81 on Monday, while the rupee depreciated 24 paise against the US dollar to 72.04 (intra-day).