Stock crash: investors lose Rs 1.3 lakh crore in a day

PTI

Mumbai, 06 August 2011: The investors were left poorer by over Rs 1.33 lakh crore after Friday’s stock market crash, even as the market managed to recover nearly half of the losses suffered earlier during the day.

 

The plunge in investors’ wealth, which is notional in nature and is measured in terms of cumulative value of all listed stocks, was more than Rs 2.5 lakh crore at one point of time when the benchmark Sensex had plunged over 700 points to below the 17,000-point level.

 

However, the markets managed to recover nearly half of the losses and some buying at lower levels in afternoon trade helped the Sensex close 387.31 points down at Rs 17,305.87.

 

Still, at the end of the day, the total investors’ wealth stood at Rs 6,349,524.09 crore - down from Rs 6,482,649.67 at the end of Thursday’s market closing, as per the BSE data.

 

 

The cumulative losses for investors over the past four trading sessions is estimated at about Rs 4 lakh crore, as the Sensex fell by about 1,000 points in this period.

 

In Friday’s trade, only three out of 30 Sensex stocks managed to register gains. Together, the market value of all the 30 Sensex companies fell by more than Rs 56,000 crore. Some of the biggest losses were seen in blue-chips like TCS, Reliance Industries, Infosys, NTPC, ICICI Bank and Bharti Airtel.

 

While TCS lost more than Rs 7,800 crore, RIL and Infosys lost about Rs 6,800 crore each. While NTPC lost over Rs 4,000 crore, BHEL saw its market value dipping by about Rs 3,500 crore and companies like Bharti Airtel and ICICI Bank lost about Rs 3,000 crore each.

 

However, ONGC added about Rs 2,500 crore to its market value, while modest gains of about Rs 200 crore was seen by Cipla and Hindalco each.