Indian investors lose Rs 13 lakh crore as stocks crash following Donald Trump’s tariff announcements
Indian stock markets on Monday witnessed one of their worst falls in 10 months as sweeping tariff announcements by United States President Donald Trump triggered a global selloff.
The Bombay Stock Exchange Sensex ended the day at 73,137.90, down 2,226.79 points, while the National Stock Exchange Nifty50 closed at 22,161.60, losing 742.85 points. Earlier in the session, the Sensex had plummeted by as much as 3,914 points, and Nifty50 by 1,146.05 points.
With this, investor wealth of about 13.58 lakh crore was wiped out, Business Today reported.
Technology and metal stocks bore the brunt of the selloff in India. Tata Steel was down by 7.73% on the BSE Sensex, while Tata Motors was down by 5.54% at closing. Shares of Larsen & Toubro were down by 5.78 at the close of the day’s trading.
From the Nifty50 grouping, the top losers were Trent (14.70%), JSW Steel (7.53%) and Tata Steel (7.26%).
Retail investors were not the only ones hit. According to Forbes’ real-time billionaire list, India’s richest individuals lost over $10 billion in a single day, reported India Today.
Mukesh Ambani’s wealth fell by $3.6 billion to $87.7 billion, while Gautam Adani lost $3 billion, bringing his net worth down to $57.3 billion. Savitri Jindal and family saw a $2.2 billion decline to $33.9 billion and Shiv Nadar’s fortune fell by...
Read more
News