Investors lose Rs 7L-cr

Investors' wealth was eroded by nearly Rs 7 lakh crore on Thursday as the stock markets took a heavy beating with the BSE Sensex tumbling 1,236 points or 1.5 per cent amid escalating geopolitical tensions between the US and Iran.The market capitalisation of BSE-listed firms slumped by Rs 6.79 lakh crore (Rs 6,79,210.1 crore) to Rs 465 lakh crore (Rs 4,65,22,014.57 crore (USD 5.13 trillion).

Selling pressure was widespread, led by IndiGo, followed by Mahindra & Mahindra, UltraTech Cement, Trent, Bharat Electronics Ltd, Adani Ports, Kotak Mahindra Bank, Reliance Industries, Tech Mahindra, ITC, Eternal and PowerGrid.

The sharp selloff in equities today was triggered by news of an imminent US strike on Iran.