Investor wealth erodes by Rs 6.25 lakh cr in early morning trade on coronavirus scare

Investor wealth worth Rs 6.25 lakh crore was wiped off in early morning trade on Monday as markets witnessed yet another sell-off, with the BSE benchmark plunging 2,182.41 points as Covid-19 scare continued to hit sentiment.

|Mar 16, 2020, 11:11:22 IST

New Delhi: Investor wealth worth Rs 6.25 lakh crore was wiped off in early morning trade on Monday as markets witnessed yet another sell-off, with the BSE benchmark plunging 2,182.41 points as Covid-19 scare continued to hit sentiment.The market capitalisation of BSE-listed companies dropped by Rs 6,25,501.8 crore to Rs 1,23,00,741.02 crore in the opening trade.[caption id="attachment_5936491" align="alignleft" width="380"] File image of Rs 100 notes. AFP.[/caption]The drop in investor wealth was led by extremely weak market sentiment, where the BSE Sensex witnessed another plunge after staging a strong comeback on Friday.The entire BSE 30-share pack was trading in the red, led by IndusInd Bank, ICICI Bank, HDFC and Axis Bank, tumbling up to 9.3 per cent.Market heavyweight Reliance Industries was also trading over 3 percent lower, which was also instrumental in dragging the benchmark lower.All the sectoral indices were trading with sharp losses.

No premium queues, 30-minute target: What changes for Indian passport applicants in UAE

Indian passport applicants in the UAE can now access passport, visa and attestation services through Alhind’s 16 centres, with no premium queues, a Dh19 service fee and a target of completing applications within 30 minutes

4 min read

Bharat Forge, Flying Whales sign pact to develop 60-tonne airships for India’s defence logistics

Bharat Forge has signed an MoU with Flying Whales to jointly develop and manufacture 60-tonne heavy-lift airships in India for defence logistics, strategic mobility and disaster response

3 min read

Air India to cut Delhi-Toronto flight time by 3 hours, resume non-stop services from August 1

Air India will resume non-stop Delhi-Toronto flights from August 1, cutting travel time by nearly three hours and deploying its new Boeing 787-9 Dreamliner on the route

2 min read

South Korea economy grows faster than expected in Q2 as chip exports power recovery

South Korea’s economy grew 0.6% in the second quarter, beating expectations as strong semiconductor exports offset weakness in construction investment and domestic demand

2 min read

India remains among fastest-growing major economies despite global uncertainty, says RBI Bulletin

RBI says industrial and services activity stayed resilient through June, while strong trade, stable external sector and improving foreign investment continue to support economic growth.

1 min read

Up Next