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Rs 26 lakh crore investor wealth erased after Sensex tanks 3,690 points

Investors lost nearly Rs 26 lakh crore due to a steep fall in the equity benchmarks after early trends of the elections started to trickle in Saturday.
12:14 PM Jun 04, 2024 IST | IANS
rs 26 lakh crore investor wealth erased after sensex tanks 3 690 points
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Mumbai, June 4: Indian equity indices saw a steep fall on Tuesday after early counting trends showed a tough contest between the NDA and the opposition INDIA bloc in the Lok Sabha elections.

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Investors lost nearly Rs 26 lakh crore due to a steep fall in the equity benchmarks after early trends of the elections started to trickle in Saturday.

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By 11 a.m. in Tuesday's session, BSE's market cap touched Rs 400 lakh crore, which was Rs 426 lakh crore when the market closed on Monday.

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Indian markets opened with a steep fall on Tuesday. In early trade, Sensex slipped 2,713 points or 3.55 per cent, while the Nifty slipped 838 points or 3.65 per cent.

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At 11 am, Sensex was at 72,740, down 3,690 points or 4.83 per cent, while Nifty was at 22,119, down 1,144 points or 4.92 per cent.

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The India volatility index (India VIX) was up 33 per cent at 27.59 points.

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There was a huge rise in the markets on Monday after the Exit Polls projected a favourable result for the current government in the Lok Sabha elections.

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On Monday, Sensex closed 2,507 points or 3.39 per cent higher at 76,468 points, while Nifty ended 733 points or 3.25 per cent higher at 23,263 points.

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