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It’s $50 mn gain for investors in every minute of trade

It’s $50 mn gain for investors in every minute of trade
PTI
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First Published: Sun, Jan 06 2008. 12 36 PM IST
Updated: Sun, Jan 06 2008. 12 36 PM IST
New Delhi: If 2007 was historic in terms of wealth creation on bourses, 2008 has begun on a much more promising note with its first week making investors richer at about five-times faster rate.
Investors have seen their wealth, measured in terms of market capitalization of all the listed companies, growing by Rs200 crore (over $50 million) in every minute of trade so far in 2008, against an average of Rs42 crore (over $10 million) a minute in 2007.
This is based on five hours and 35 minutes (335 minutes) of trading in a day. Bourses saw 250 days of trading in 2007, while there have been four trading sessions so far in 2008.
Even the market benchmark Sensex has started the new year on nearly four-times faster rate than 2007 when measured in terms of adding to the investors wealth. The last year saw the Sensex gaining 6,500.08 points with an average gain of about 26 points a day. In four trading days so far this year, it has gained 399.9 points with an average of 99 points a day.
The 30-share barometer index rose from 13,786.91 points to 20,286.99 points during 2007, while it settled at 20,686.89 points on Friday last week.
The total investors wealth surged by more than Rs35 trillion during 2007, while it has already grown by more than Rs2.66 trillion so far in 2008.
The total market cap stood at Rs71,69,983 crore on 31 December 2008, as against Rs36,24,357 crore at 2006-end. The market capitalisation has grown to a record high of Rs74,36,689 crore, as on 4 January 2008.
The gain of Rs35,45,626 crore in the investors’ wealth results into an average gain of Rs14,182.5 crore in one trading session or Rs42 crore every minute. However, the gain of Rs2,66,706 crore so far in 2008 gives an average of Rs66,676 per trading session or Rs199 crore per minute.
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First Published: Sun, Jan 06 2008. 12 36 PM IST
More Topics: Stocks | Shares | Wealth | Sensex | Nifty |