05:41
MUMBAI: A sharp sell-off in the stock market wiped out over Rs 2 lakh crore from investors' wealth today as the benchmark Sensex plummeted 587 points following weak domestic and global macroeconomic data.
Total investor wealth of BSE-listed companies tumbled by Rs 2,02,654.47 crore to Rs 96,25,276 crore.
The 30-share index plunged 586.65 points or 2.23 per cent to settle at 25,696.44. Intra-day, the blue-chip index crashed 703.21 points to 25,579.88.
"Tracking weak cues from both domestic and global front, equity benchmarks tanked today. Mainly, sentiments were downbeat in reaction to weak macro-economic data of GDP. Adding to that, negativity on global front pushed benchmarks lower as the day progressed," said Jayant Manglik, President, Retail Distribution, Religare Securities Ltd.
A government data yesterday said that domestic growth had slowed down to 7 per cent in the June quarter from 7.5 per cent in the previous quarter, while a private survey today showed that China factory output shrank to a three-year low.
Total investor wealth of BSE-listed companies tumbled by Rs 2,02,654.47 crore to Rs 96,25,276 crore.
The 30-share index plunged 586.65 points or 2.23 per cent to settle at 25,696.44. Intra-day, the blue-chip index crashed 703.21 points to 25,579.88.
"Tracking weak cues from both domestic and global front, equity benchmarks tanked today. Mainly, sentiments were downbeat in reaction to weak macro-economic data of GDP. Adding to that, negativity on global front pushed benchmarks lower as the day progressed," said Jayant Manglik, President, Retail Distribution, Religare Securities Ltd.
A government data yesterday said that domestic growth had slowed down to 7 per cent in the June quarter from 7.5 per cent in the previous quarter, while a private survey today showed that China factory output shrank to a three-year low.
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