7 Lakh Crore of Investors Wealth Wipes Out

Telangana99.com, Mumbai: Monday reginstered one more bad day in the history of Indian share market, The BSE Sensex slumped 1,625 points or nearly 6 per cent on Monday – marking its biggest percentage fall since 2009. In terms of absolute value, it was the third worst day for Sensex. The rupee sank to a fresh two-year low of 66.74 per dollar. The selloff in markets was triggered by a global meltdown in risk assets.

The rupee weakened from 64 per dollar to 66.74, a fall of over 4 per cent since August 11 when China announced the devaluation of its yuan currency. Reserve Bank of India Governor Raghuram Rajan said that India is better off than other emerging market economies. The macro-economic problems are under control, low inflation will give investors trust in markets, he added.


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