Investors lost more than Rs 6.18 lakh crore as markets were battered on Friday. The 30-share BSE Sensex fell 1,093.22 points or 1.82% to 58,840.79. It was down 1,246.84 points or 2% on the day at 58,687.17.

The market capitalisation of BSE-listed companies fell to Rs 2,79,68,822.06 crore from Rs 6,18,536.3 crore on Friday. The BSE benchmark fell for a third straight day on Friday, down 1,730.29 points or 2.85%.

In three days, investors’ wealth fell by Rs 7,02,371.88 crore. “Indian markets were the worst performers in Asia as equities fell across the board due to rising inflation and the prospect of a sharp Fed rate hike. We could see sharp volatility in the coming sessions as a global slowdown loom,” said Amol Athawale, vice president of technology research at Kotak Securities Ltd.

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The BSE mid-cap index fell 2.85% on the broader market, and the small-cap index fell 2.38%. All BSE sector indices closed in negative territory, with real estate down 3.53%, followed by IT (3.37%), basic materials (3.05%), Tektronix (3.03%) and automotive (2.67%). Vinod Nair, head of research at Geojit Financial Services, said: “Global equities continue to face bearish pressure amid rising yields and the US dollar index, with domestic markets capitulating to global trends despite a strong decoupling scenario and encouraging macroeconomic data.” As many as 2,532 stocks fell, 972 advanced, and 106 were unchanged.