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Two knocks take away Rs2.53 trillion from investors’ wealth

Two knocks take away Rs2.53 trillion from investors’ wealth
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First Published: Wed, Aug 01 2007. 07 55 PM IST
Updated: Wed, Aug 01 2007. 07 55 PM IST
PTI
Mumbai: Investors have seen over Rs2.5 trillion going down the drain at Dalal Street with the Sensex suffering two major blows in less than a week.
The benchmark Sensex on 1 August plunged by 615.22 points, its third biggest single-day fall in terms of absolute value, which came within a week of the index losing 542 points on 27 July — the sixth biggest one-day fall so far.
The investors went poorer by Rs1,85,000 crore on 1 August, while the loss was close to Rs1,58,000 crore on 27 July, measured in terms of the total market capitalisation of all the listed companies.
Total investor wealth has gone down by close to Rs2,53,000 crore since 26 July, with the Sensex losing about 840 points in just five trading sessions.
At the end of the 1 August session, total market cap stood at about Rs43,48,000 crore, down from over Rs46,00,000 crore on July 26.
Close to 45% of the total loss, or more than Rs1,13,000 crore, has been seen in the country’s 30 biggest blue chip firms.
Reliance Industries, the country’s most valued firm, saw its market value plummet by nearly Rs20,000 crore since 26 July, while the second-biggest firm on the BSE, ONGC, saw an erosion of over Rs13,000 crore in the same period.
Reliance Communications and Bharti Airtel saw a fall of Rs8,000 crore and Rs11,000 crore respectively in their market values, while Infosys suffered a loss of about Rs6,000 crore.
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First Published: Wed, Aug 01 2007. 07 55 PM IST
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