India, Sept. 18 -- Investor wealth eroded by Rs 2.72 lakh crore in two days as soaring crude oil prices in the wake of rising geopolitical tensions in the Middle East led to severe selling in the equity market.
The BSE Sensex on Tuesday plummeted 642.22 points or 1.73 per cent to close at 36,481.09. During the day, it dropped 704.22 points.
The BSE gauge had on Monday settled 262 points lower.
Led by the heavy selling in the market, the market capitalisation (m-cap) of BSE-listed companies eroded by Rs 2,72,593.54 crore to Rs 1,39,70,356.22 crore.
"The rampant sell-off across the horizon for second consecutive day resulted in complete erosion of previous week's gains. The sudden spike in oil prices on account of drone attacks on Saudi A...