Markets recover after crash, investors lost 3 lakh crore

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Mumbai : The Indian stock market opened deep in the red on Wednesday with the BSE Sensex down 757.37 points, or 1.25 percent, at 59813.71 at 9:17am, and the Nifty shedding 220.80 points, or 1.22 percent, to 17849.20, due to negative global cues. But latet, both Sensex and Nifty recovered for the day’s low.

With the IT, financials, auto, and real estate indices each down 1-3 percent, all sectors are trading down. The BSE midcap and smallcap indices have each decreased by more than 1%.

Investors lost about Rs 3 lakh crore at open as the total market capitalization of BSE dropped below Rs 284 lakh crore, which was Rs 286.71 lakh crore at the end of Tuesday’s session.

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