News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay  » Business » Investor wealth slumps by Rs 45 trillion

Investor wealth slumps by Rs 45 trillion

Source: PTI
October 24, 2008 19:12 IST
Get Rediff News in your Inbox:
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 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 market capitalisation fell over Rs 24,900 crore (Rs 249 billion), Infosys fell by Rs 1,946 crore (Rs 19.46 billion) and telecom major Bharti Airtel lost over Rs 15,403.09 crore (Rs 154.03 billion).

Global meltdown: Complete coverage
Credit policy: Complete coverage
Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Moneywiz Live!