Mumbai: A sharp plunge in the equity market made investors poorer by Rs 3.85 lakh crore Friday as the BSE barometer Sensex plummeted over 1,400 points led by massive selloff in banking, metal and energy stocks.
Tracking the plunge in the indices, the market capitalisation of BSE-listed companies dropped by Rs 3,85,485.39 crore to Rs 1,43,99,995.94 crore.
In the opening trade, the 30-share BSE index plunged 1,459.52 points and was later trading over 900 points lower in afternoon session as sentiment in the market remained muted amid crisis at Yes Bank and rising concerns over the economic strain of coronavirus outbreak.
The Nifty PSU and private bank index was down over 5 per cent each while the Nifty financial service index slipped nearly 4 per cent.
At 11:16am, the Sensex traded 1,224 points lower or 3.18 per cent to 37,245.70 while the broader Nifty slipped by 378.25 points to 10,890.75.
Yes Bank shares Friday fell to the lowest in a decade after RBI Thursday superseded the board of directors of Yes Bank and placed it under moratorium.
During the early trade, Yes Bank shares were down by Rs 12.85 a share or 34 per cent to Rs 34.87 a share from its previous close while SBI fell over 6 per cent to trade at Rs 269.20 a share.
Persistent fears of the coronavirus outbreak severely impacting the global economy also weighed on the investor sentiments, analysts said.
The total number of confirmed cases of the novel coronavirus in India has jumped to 30.
(Agencies)
