Investor wealth shrank by Rs 5.77 lakh crore on Friday as a sharp bout of selling in the final hour of trade dragged benchmark indices deep into the red amid concerns over a weaker monsoon outlook and geopolitical uncertainty.

Benchmark indices failed to carry forward the momentum and were trading lower; BSE benchmark traded 77.80 points down at 75,935.11, and the Nifty dipped 29.15 points to 23,897.80

Indian stock markets experienced a sharp decline on Friday. The Sensex and Nifty saw significant drops, wiping out substantial market capitalization. Persistent foreign investor…