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New Delhi, May 12 Equity investors lost over Rs 5 lakh crore on Thursday as indices took a deep plunge due to the persisting high inflation in the US, below expected corporate earnings, amid fears of high inflation in India for the fourth straight month in April.Market cap of all BSE-listed firms fell by Rs 5.25 lakh crore to Rs 241.10 lakh crore against Rs 246.31 lakh crore in the previous session.The Indian indices extended their fall for the fifth straight session on Thursday.Sensex closed at 52,930, down 1,158 points or 2.1 per cent, whereas Nifty, at 15,808 points, was down 359 points or 2.2 per cent.Adani Ports was the top loser as the stock price slipped 5.8 per cent to Rs 715.For fresh cues, investors were awaiting the April consumer price-based (CPI) inflation figure for India.It was widely expected that the inflation print would above RBI's 6 per cent upper band for the fourth straight month.The Indian rupee dived to a fresh record low of 77.63 mark, wherein a slew of factors has conspired to push the domestic currency on a downwards trajectory."Elevated crude prices, global uncertainty amid the war in Ukraine, mounting inflation, and prospects of an aggressive monetary tightening path by the US Fed have been the major headwinds for the domestic currency," said Sugandha Sachdeva, Vice President - Commodity and Currency Research, Religare Broking.Additionally, relentless foreign fund outflows from the equities and the greenback climbing to a two-decade high have also been the key catalysts behind the recent slump in the rupee-dollar exchange rate, added Sachdeva."Risk sentiments have soured as the market participants are fretting that an accelerated pace of rate hikes would derail global economic growth."However, likely RBI intervention to stem the fall in the rupee led the domestic currency to erase some of the losses. Considering the backdrop, Sachdeva foresees the Indian rupee to trade in a range of 76.80-78.50 in the near-to-medium term.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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