The downslide on bourses today wiped off over Rs 1,22,000 crore from the market wealth, including that of company promoters and public investors, as huge losses were seen in blue-chip stocks like RIL, ITC and TCS.
The stock market today plunged sharply with a 441-point fall in the benchmark Sensex, as growing concerns over inflation and rising interest rates led to fears that companies' profitability could be hurt due to surge in raw material prices as also borrowing costs. In the process, the total investors' wealth, measured in terms of cumulative market valuation of all the listed stocks, fell by Rs 1,22,129 crore in a single day to stand at just over Rs 65,00,000 crore at the end of the trading session.
This level of investors' wealth was last seen in July 2010 and the overall market valuation has now fallen by over Rs 12,00,000 crore since Diwali on November 5, 2010. On the Diwali day, the Sensex had scaled its record high closing level of 21,004 points, while the total investors' wealth had surged past Rs 77,00,000 crore.
Out of the total loss recorded today, the value of promoters' holding in the market plummetted by an estimated Rs 70,000 crore, while the public shareholders lost over Rs 50,000 crore.
The public shareholders lost a cumulative amount of more than Rs 35,000 crore in 30 blue chip stocks alone, which constitute the benchmark index Sensex. The promoters' holding in the 30 Sensex stocks fell by over Rs 25,000 crore. Among the biggest stocks, Reliance Industries lost close to Rs 7,800 crore from its market worth, including a loss of Rs 4,300 crore from the value of public shareholding.
Other major losers included TCS (Rs 7,200 crore), ITC (Rs 5,200 crore), NTPC (Rs 4,500 crore), Infosys (Rs 4,000 crore), ICICI Bank (Rs 300 crore), L&T (Rs 3,500 crore) and Bharti Airtel (Rs 3,000 crore).
Our basic needs are: Air, Water and Food.
Our Additional needs are: Aluminum, Copper, Crude, Gold, Lead, Natural Gas, Nickel, Silver, Zinc. Email, Equity, Share Market, BSE, NSE |
Recent Articles :
|
No comments:
Post a Comment