Investor Wealth Nosedives: Rs 7.02 Lakh Crore Wiped Out as BSE Sensex Plunges

Investor wealth suffered a dramatic loss of Rs 7.02 lakh crore in just one day, with the BSE Sensex dropping 1,048 points amid a broad-based selloff. Weak global cues and concerns about AI disruptions in technology stocks added to the market's turmoil.

In a sharp decline on Friday, investor wealth plunged by Rs 7.02 lakh crore as the BSE Sensex dropped 1,048 points, driven by a sweeping selloff in the markets. The downturn affected metal, IT, and commodity stocks, tracking sluggish international markets.

Market sentiment took a hit due to a weaker-than-expected earnings season and fears of AI-induced disruptions in technology stocks. On the day, the Sensex fell by 1.25% to settle at 82,626.76, with all sectoral indices recording losses. Metal stocks declined the most, dropping 3.21%.

Foreign institutional investors withdrew Rs 7,395.41 crore, exacerbating the losses, while domestic investors purchased stocks worth Rs 5,553.96 crore. The decline was mainly driven by steeper corrections following earnings results that failed to meet expectations.

(With inputs from agencies.)