Investor wealth dropped by Rs 37.59 lakh crore in 2019-20 fiscal
Team Udayavani, Mar 31, 2020, 6:55 PM IST
New Delhi: Investor wealth dropped by Rs 37.59 lakh crore in 2019-20 fiscal, led by a weak broader market where the BSE benchmark tanked nearly 24 per cent.
The 30-share BSE Sensex ended 2019-20 with a loss of 9,204.42 points or 23.80 per cent, while the Nifty sank 3,026.15 points or 26.03 per cent.
Led by the massive sell-off in equities, the market capitalisation of BSE-listed companies fell by Rs 37,59,954.42 crore to Rs 1,13,48,756.59 crore during the financial year.
March turned out be a nightmare for the markets, as the benchmark Sensex plunged a whopping 8,828.8 points or 23 per cent during the month as the coronavirus pandemic led to lockdowns across the world, fanning fears of a global recession.
Selling in the market was so strong that the benchmark index came crashing to its one-year low of 25,638.9 on March 24 – just two months after scaling its all-time peak of 42,273.87 on January 20.
The market capitalisation (m-cap) of BSE-listed companies had risen by Rs 8,83,714.01 crore to Rs 1,51,08,711.01 crore in2018-19 fiscal.
Markets had achieved big milestones in the just-concluded fiscal, with the BSE Sensex crossing the historic 40,000-mark and the broader NSE Nifty conquering the 12,000-level.
Selling in market heavyweights also dragged down the overall m-cap of BSE-listed companies in 2019-20.
RIL is currently the country’s most valued firm with a market valuation of Rs 7,05,211.81 crore, followed by TCS at Rs 6,84,078.49 crore.
In November last year, Reliance Industries became the first Indian company to hit the Rs 10 lakh crore market valuation mark.
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