Rs 23.44 lakh cr investors wealth eroded

New Delhi: Investors’ wealth eroded by Rs 23.44 lakh crore since the beginning of conflict involving the US, Israel and Iran, which has sent shockwaves across equity markets, dragging the BSE Sensex lower by over 6 per cent. Global oil and gas prices surged after Iran virtually blocked the Strait of Hormuz, a narrow shipping lane between the Persian Gulf and the Gulf of Oman that handles roughly 20 per cent of global oil and LNG (Liquefied Natural Gas). Brent crude, the global oil benchmark, jumped 6.66 per cent to USD 98.11 per barrel. Since February 27, the 30-share BSE Sensex has tumbled 5,252.77 points or 6.46 per cent. The market capitalisation of BSE-listed companies eroded by Rs 23,44,237.26 crore to Rs 4,40,06,434.01 crore (USD 4.77 trillion) during this time.