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Over Rs 9.75 lakh crore in investor wealth lost in two days of market turmoil

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In two days of heavy decline in the equity market, equity investors lost over Rs 9.75 lakh crore, with the Sensex falling 1,457 points on Monday.

On Monday, the 30-share BSE benchmark fell 1,456.74 points, or 2.68 percent, to 52,846.70. On Friday, it closed 1,016.84 points, or 1.84 percent lower, at 54,303.44.

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In line with the weak trend in equities, the market capitalisation of BSE-listed firms fell by Rs 9,75,889.77 crore in two days to Rs 2,45,19,673.44 crore.

Asian and European markets were also under heavy selling pressure in mid-session trade on Monday.

Concerns have grown that central bank will be more aggressive in raising interest rates in the coming months.

This could harm economic growth and put pressure on margins. On the BSE, a total of 2,839 stocks fell, 658 advanced, and 116 remained unchanged.