Investors lost Rs 6.85 lakh crore in today as Saudi Arabia started a price war with Russia cutting crude price in wake of falling demand due to rising number of coronavirus cases globally.
Market capitalisation on BSE fell to Rs 137.46 lakh crore today compared to Friday's close of Rs 144.31 lakh crore amid intensifying rout in global stocks on coronavirus concerns.
Earlier in the day, Sensex clocked its biggest single fall in its history(in terms of points intra day) crashing 2,467 points to 35,104, after crossing its 1 year low of 35,337.
The crash led to investors losing nearly Rs 8 lakh crore as market cap on BSE fell to Rs 136.59 lakh crore.
Sensex loses 2,000 points, Nifty down 6%; rupee hits 1-year low amid rout in global markets
At close, Sensex and Nifty declined 1,941 points and538 points respectively, clocking their biggest single day losses (in terms ofpoints) ever as rising cases ofcoronavirus and fall in crude oil price threatened to lock down the globaleconomy.
At 1:20 pm, NSE VIX index, which reflects rising volatility, zoomed 30% to 33.38. It closed 31% higer at 21.05.
BPCL, HPCL, Indian Oil stocks rise up to 13% as crude oil prices crash
Within minutes of opening today, Sensex lost 1,150 points at 36,429 and Nifty50 fell 308 points to 10,681.
By Aseem Thapliyal