As the market continued to fall for the third straight session, investor wealth washed away by Rs 3.62 lakh crore in just three trading days.
BSE Sensex fell by 169.45 points and hit a two-month low of 37,121.22. The market capitalisation of BSE listed companies eroded by Rs 3,62,357.15 crore to Rs 1,52,73,265 crore since Friday.
Market analysts said that trade war escalation issues between US and China, increasing crude oil prices and depreciating rupee against the dollar have dampened sentiments.
Vinod Nair, Head of Research, Geojit Financial Services Ltd has said “Despite favourable global cues and recovery in rupee, the domestic market continued to witness selling pressure due to higher oil price and yield.”
At the BSE, 1,704 stocks declined, while 968 advanced and 173 remained unchanged. As many as 180 stocks hit their 52-week low levels on BSE Wednesday.