Advertisement

Help
You are here: Rediff Home » India » Business » Report
Search:  Rediff.com The Web
Advertisement
   Discuss   |      Email   |      Print | Get latest news on your desktop

Investor wealth slumps by Rs 45 trillion
 
 · My Portfolio  · Live market report  · MF Selector  · Broker tips
Get Business updates:What's this?
Advertisement
October 24, 2008 19:12 IST
With the benchmark index Sensex falling below the 9,000-mark on Friday, the investor wealth has seen an erosion of a whopping Rs 45 trillion since BSE barometer had touched the peak of 21,000 in January this year.

The total investor wealth, measured in terms of market capitalisation of all the listed companies together, on Friday dipped to about Rs 27,74,000 crore (Rs 27.74 trillion) against close to Rs 73,00,000 crore (Rs 73 trillion) on January 10, when the benchmark Sensex had scaled its life-time high.

The Sensex on Friday witnessed its second biggest single day fall of over 1,000-points which wiped off over Rs 3.25 trillion since Thursday.

                               Biggest falls in stock market history

The combined market-cap had been Rs 31,00,607 crore (Rs 31 trillion) at the end of the Thursday's trade. The Sensex settled the day below the 9,000 level, down by about 11 per cent, after nearly three years.

The combined market valuation of all the 30 stocks comprising the benchmark index Sensex stood at Rs 12,67,419.90 crore (Rs 12.67 trillion) losing as much as Rs 1,71,000 crore (Rs 1.71 trillion) in a single day. The Sensex companies command nearly half of total market valuation of all the listed firms.

Among the major losers, corporate behemoth Reliance Industries [Get Quote] lost over Rs 29,038 crore (Rs 290.38 billion) in a single day with the scrip dropping over 16 per cent.

While PSU major ONGC's [Get Quote] market capitalisation fell over Rs 24,900 crore (Rs 249 billion), Infosys [Get Quote] fell by Rs 1,946 crore (Rs 19.46 billion) and telecom major Bharti Airtel [Get Quote] lost over Rs 15,403.09 crore (Rs 154.03 billion).

Global meltdown: Complete coverage
Credit policy: Complete coverage
© Copyright 2008 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 Email  |    Print   |   Get latest news on your desktop

© 2008 Rediff.com India Limited. All Rights Reserved. Disclaimer | Feedback