Investors' stock market wealth eroded by Rs 245,000 crore on Thursday after the BSE S&P Sensex slumped 555 points and hit a 52-week low in an intra-day trade after China's regulators halted trading for the day following a sharp plunge in Chinese shares.
Indian markets continued to post losses for four consecutive trading sessions mainly on concerns of global weakness and correction in oil prices.
A fresh slump in crude oil and commodity prices, devaluation of Chinese currency by Chinese government and worries of economic slowdown spooked the sentiment of the equities worldwide.
The S&P BSE Sensex tumbled 2.18% or 555 points, to settle at 24,852, its biggest single-day fall since September 1, 2015, when the index plunged 2.23% or 587 points. CNX Nifty too, plunged 2.23% or 173 points to settle at 7,568.
The total investor wealth, measured in terms of cumulative market value of all listed companies, plummeted by Rs 245,647 crore and stood at Rs 96,91,131 crore at the end of today's trade, the BSE data shows.
Of this, about Rs 92,000 crore was wiped off from the BSE Sensex stocks that include blue chips like Oil & Natural Gas Corporation (ONGC), Tata Motors, Reliance Industries, Maruti Suzuki India, State Bank of India (SBI) and Axis Bank. These six companies lost market capitalisation of more than Rs 5,000 crore each.
Hindustan Unilever, Housing Development Finance Corporation (HDFC), ITC, Infosys , HDFC Bank, Larsen & Loubro (L&T), and NTPC lost m-cap in the range of Rs 3,000 crore to Rs 5,000 crore.
The market witnessed a nosedive correction amid Yuan’s continuous depreciation which has negatively influenced the investors’ preference to the emerging markets.
“We feel that going forward the retail investors are likely to stay away from the market as further depreciation in Yuan cannot be ruled out. Indeed, we are nearing the Q3 results season, so the near term fluctuations will also depend upon the earning guidance and outlook from the companies,” said Mr. Vinod Nair, Head-Fundamental Research, Geojit BNP Paribas Financial Services.
In past four trading sessions, investor’s lost Rs 400,000 crore from Rs 100,93,395 crore on January 1, 2016. The S&P BSE Sensex has fallen 5% or 1,309 points from 26,161 levels.
Indian markets continued to post losses for four consecutive trading sessions mainly on concerns of global weakness and correction in oil prices.
A fresh slump in crude oil and commodity prices, devaluation of Chinese currency by Chinese government and worries of economic slowdown spooked the sentiment of the equities worldwide.
The S&P BSE Sensex tumbled 2.18% or 555 points, to settle at 24,852, its biggest single-day fall since September 1, 2015, when the index plunged 2.23% or 587 points. CNX Nifty too, plunged 2.23% or 173 points to settle at 7,568.
The total investor wealth, measured in terms of cumulative market value of all listed companies, plummeted by Rs 245,647 crore and stood at Rs 96,91,131 crore at the end of today's trade, the BSE data shows.
Of this, about Rs 92,000 crore was wiped off from the BSE Sensex stocks that include blue chips like Oil & Natural Gas Corporation (ONGC), Tata Motors, Reliance Industries, Maruti Suzuki India, State Bank of India (SBI) and Axis Bank. These six companies lost market capitalisation of more than Rs 5,000 crore each.
Hindustan Unilever, Housing Development Finance Corporation (HDFC), ITC, Infosys , HDFC Bank, Larsen & Loubro (L&T), and NTPC lost m-cap in the range of Rs 3,000 crore to Rs 5,000 crore.
The market witnessed a nosedive correction amid Yuan’s continuous depreciation which has negatively influenced the investors’ preference to the emerging markets.
“We feel that going forward the retail investors are likely to stay away from the market as further depreciation in Yuan cannot be ruled out. Indeed, we are nearing the Q3 results season, so the near term fluctuations will also depend upon the earning guidance and outlook from the companies,” said Mr. Vinod Nair, Head-Fundamental Research, Geojit BNP Paribas Financial Services.
In past four trading sessions, investor’s lost Rs 400,000 crore from Rs 100,93,395 crore on January 1, 2016. The S&P BSE Sensex has fallen 5% or 1,309 points from 26,161 levels.
| LTP | % | % | M-cap | Change (Rs cr) | ||
| Company | Rs | chg* | Chg# | Rs crore | 1 day | 4 days |
| ONGC | 226.70 | -4.5 | -6.5 | 193,953 | -9,154 | -13,432 |
| Tata Motors | 343.20 | -6.2 | -14.6 | 112,128 | -7,351 | -18,936 |
| Reliance Inds. | 1011.55 | -2.0 | -0.4 | 327,682 | -6,608 | -1,231 |
| Maruti Suzuki | 4266.55 | -4.8 | -8.0 | 128,884 | -6,434 | -11,132 |
| SBI | 209.55 | -3.4 | -8.0 | 162,669 | -5,783 | -14,051 |
| Axis Bank | 409.35 | -5.0 | -9.0 | 97,382 | -5,103 | -9,621 |
| Hind. Unilever | 819.70 | -2.6 | -4.3 | 177,372 | -4,696 | -7,974 |
| HDFC | 1179.80 | -2.4 | -6.2 | 186,259 | -4,523 | -12,235 |
| ITC | 309.60 | -1.7 | -5.4 | 248,816 | -4,420 | -14,225 |
| Infosys | 1051.25 | -1.7 | -4.7 | 241,466 | -4,180 | -11,921 |
| HDFC Bank | 1052.95 | -1.2 | -3.3 | 265,879 | -3,118 | -9,002 |
| Larsen & Toubro | 1206.30 | -2.7 | -6.4 | 112,332 | -3,106 | -7,659 |
| NTPC | 137.85 | -2.5 | -4.5 | 113,664 | -2,968 | -5,401 |
| BHEL | 153.85 | -7.0 | -10.0 | 37,656 | -2,827 | -4,198 |
| TCS | 2370.05 | -0.5 | -1.9 | 464,222 | -2,184 | -9,049 |
| Sun Pharma | 784.00 | -1.1 | -3.9 | 188,683 | -2,046 | -7,641 |
| Bajaj Auto | 2419.25 | -2.7 | -4.0 | 70,006 | -1,917 | -2,917 |
| M&M | 1193.60 | -2.5 | -5.5 | 74,134 | -1,869 | -4,338 |
| ICICI Bank | 247.00 | -1.2 | -6.1 | 143,561 | -1,802 | -9,298 |
| Tata Steel | 250.10 | -6.9 | -2.8 | 24,290 | -1,787 | -699 |
| Lupin | 1718.30 | -2.0 | -6.9 | 77,409 | -1,615 | -5,730 |
| Adani Ports | 244.55 | -2.8 | -8.6 | 50,645 | -1,439 | -4,753 |
| Asian Paints | 871.55 | -1.7 | -1.0 | 83,599 | -1,439 | -825 |
| Wipro | 549.80 | -1.0 | -1.2 | 135,821 | -1,346 | -1,630 |
| Hero Motocorp | 2517.85 | -2.5 | -6.3 | 50,281 | -1,276 | -3,395 |
| Cipla | 639.15 | -2.0 | -2.4 | 51,339 | -1,064 | -1,249 |
| Dr Reddy's Labs | 2990.55 | -1.9 | -3.7 | 51,021 | -969 | -1,967 |
| Coal India | 326.55 | -0.3 | -2.2 | 206,261 | -600 | -4,643 |
| GAIL (India) | 370.20 | -0.5 | 0.1 | 46,959 | -247 | 51 |
| Bharti Airtel | 321.45 | -0.1 | -5.6 | 128,496 | -160 | -7,635 |
| LTP - Last traded price, m-cap as on January 7, 2016 | ||||||
| * Over previous day, # since January 1, 2016 | ||||||
| Source: BSE/CapitalinePlus | ||||||