Valuation in 48 sectors take a plunge, while 63 posted gains in 2002-03
The capitalisation of the Bombay Stock Exchange (BSE) declined by a massive Rs 64,000 crore in the financial year ended March 31, 2002.
Aggregate market capitalisation has slumped to Rs 5,24,903 crore as on March 31, 2003, from Rs 5,89,253 crore as on April 1, 2002 , a drop of Rs 64,350 crore or 10.9 per cent.
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Out of 111 industry classifications of Business Standard Research Bureau, nearly 48 sectors had value loss of Rs 83,458 crore, while 63 industries reported a gain of Rs 19,108 crore, resulting a net loss of Rs 64,350 crore.
During the period the benchmark sensex reported a fall of nearly 451 points or 12.9 per cent and broadbased S&P CNX Nifty slipped 161 points or 14.1 per cent.
Segments such as information technology, fast-moving consumer goods (FMCG), telecommunication, entertainment and pharmaceuticals were the worst hit during the period.
The valuation of information technology stocks declined by 20.1 per cent or by Rs 19,685 crore to Rs 78,391 crore from Rs 98,076 crore.
In the case of the FMCG sector, market capitalisation slid 32.1 per cent or by Rs 18,364 crore to Rs 38,926 crore from Rs 57,291 crore.
Telecom sector values plunged by Rs 10,762 crore to Rs 14,822 crore from Rs 25,584 crore, and that of the pharmaceuticals sector reduced by Rs 6,446 crore or 14.1 per cent to Rs 39,375 crore from Rs 45,821 crore.
Among the major losers are entertainment (loss of Rs 6,485 crore), automobiles