Business OpportunitiesInvestor wealth erodes by Rs 2 lakh-cr in a day
The meltdown on bourses today left investors on the Bombay Stock Exchange (BSE) poorer by over Rs 2 lakh-crore -- with nearly half of the losses being incurred by shareholders in the 30 blue-chip stocks.
- BSE receives complaints against 228 listed firms - Sensex tanks 354 pts on monsoon woes - Bombay Stock Exchange Q1 profit at Rs 57.27 cr - Axis Bank plans to raise up to Rs 5k cr - Investor wealth swells by Rs 77,000 cr - BSE suspends short selling in four scrips from July 31
Total investor wealth plunged by Rs 2,00,971.4 crore in about five-and-a-half hours of trading during which the benchmark index Sensex shed over 620 points. Nearly half of the loss was contributed by the 30 Sensex stocks.
Based on the cumulative market capitalisation of all the stocks listed on the BSE, the total investor wealth fell below the Rs 50 lakh crore-mark.
At the end of the trade, market capitalisation of the BSE listed companies stood at Rs 49,27,543.05 crore today. At close on Friday, the amount stood at Rs 51,28,514.45 crore.
The market capitalisation of the 30 Sensex stocks dropped by Rs 1,00,870.49 crore to Rs 22,56,209.95 crore at the end of trade today.
Market capitalisation of the Sensex companies on last Friday was Rs 23,57,080.44 crore.
The 30-share BSE index fell 4.07 per cent or 626.71 points to 14,784.92, its lowest close since July 17 this year.
At close, market capitalisation of countries most valued firm Reliance Industries stood at Rs 305,267.71 crore.
RIL is followed by state-run ONGC (Rs 2,49,018.23 crore), NTPC (Rs 1,67,506.61 crore) and Bharti Airtel (Rs 1,51,550.96 crore).