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Markets in a bear trap, investors lose Rs 10 lakh crore of wealth in 2 days

With Monday’s drop, benchmark indices plunged into the negative territory in 2022, losing more than 2 percent against a 22 percent rally in the previous year

February 14, 2022 / 15:15 IST
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Relentless selling pressure roiled the equity markets for the second consecutive session on February 14, leaving investors poorer by Rs 10 lakh crore.

Fears of a possible invasion of Ukraine by Russia, inflating crude oil prices, and a correction in global markets spooked investors for the second day in a row.

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Equity benchmark indices fell 2 percent on Monday, in addition to the 1.3 percent drop in the previous session. The BSE Sensex plunged 1,255 points to 56,898, and the Nifty50 fell 382 points to 16,992 at 1:48pm.

With this drop, the benchmark indices plunged into the negative territory in 2022, losing more than 2 percent against a 22 percent rally in the previous year.