A series of bad news in the global markets and the rupee's southward movement have taken a huge toll on investors' wealth. In six continuous trading sessions since September 8, around Rs 4.09 lakh crore of shareholder wealth had been wiped out in the BSE stocks.
The total BSE market capitalisation has declined to Rs 44.33 lakh crore on September 15 from Rs 48.42 lakh crore on September 8. Leading the rout in m-cap depletion was the construction sector, with a staggering 14.1% erosion in the six sessions. Other sectors that saw double-digit m-cap depletion are the sugar, shipping, fertilizers, steel and NBFC stocks. The Sensex steadily declined by 1,413.70 points (9.46%) to 13,531.27 on September 15, from 14,944.97 on September 8. It has declined by 35.18% (7,342.06 points) from the level of 20,873.33 on January 8 of this year, when it recorded an all-time high. The Nifty also declined by 409.40 points (9.13%) to 4072.90 from 4,482.30 during the last six trading sessions. Out of the last six trading sessions, Monday's fall of 3.35% (469.54 points) was the highest. DRDogra, DMD, Credit Analysis& Research, said: "Markets fell today (Friday) in line with the global markets through the day on account of the credit crisis in the US financial space. Rate-sensitives, infrastructure, oil and technology stocks witnessed huge selling pressure followed by mid-cap and small-cap stocks. The news of Lehman Brothers filing for Chapter 11 bankruptcy led the fall." The market capitalisation of BSE 'A' group (199) also dropped by 9.34% (Rs 3.84 lakh crore) in the six trading sessions, from Rs 41.15 lakh crore to Rs 37.31 lakh crore on Sept 15,'08. Amongst individual companies, Jaiprakash Associates lost Rs 3,005 crore in market capitalisation, a decline of 14.8% to Rs 17,289 crore from its September-8 level of Rs 20,294 crore. Hindustan Construction registered a decline of 14.9% to Rs 2,271 crore in its m-cap on Monday. Stocks of companies like Sterlite Industries, Reliance Infrastructure, Reliance Capital, Jindal Steel & Power, Neyveli Lignite Corp, Essar Oil, Tata Chemicals, Ispat Industries, ICICI Bank & ONGC also showed bearishness. Consider ONGC, which declined by 12.5% to Rs 2.06 lakh crore or ICICI Bank, which declined by 12.9% to Rs 69,900 crore http://www.financialexpress.com/news/Investors-lose-Rs-4.09-lakh-cr-in-six-trading-sessions/361834/ Credit is a system whereby a person who can't pay gets another person who can't pay to guarantee that he can pay. - Charles Dickens --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
