Mumbai: Investors on 22 January lost over Rs6 trillion within minutes of opening of the Bombay Stock Exchange, which was immediately suspended for an hour after the 30-share barometer index, Sensex, hit the circuit limit of 10%.
This loss of Rs6,54,887.85 crore comes on top of over Rs11 trillion loss suffered by investors on the Dalal Street in the last six days.
“Small investors should stay away from the markets as of now. Let the market normalise and the volatility reduce,” domestic brokerage firm SMC Global Vice President Rajesh Jain told PTI.
“Better to out when in doubt” he said, adding that there is too much of panic in the markets and it is better to stay away from it.
The Sensex lost 5,251.15 points in last seven trading sessions including today’s early morning trade till suspension, while investors’ wealth — measured in terms of cumulative market capitalization of all the listed companies — has declined by a whopping Rs18,40,173.31 crore.
As per information available on the Bombay Stock Exchange website, the total market capitalization stood at Rs59,53,525.87 crore at the end of yesterday’s trading against Rs71,38,810 crore before bourses began business last week on 14 January.
The 30-share barometer tumbled 2,029.05 points to 15,576.30 within minutes of start of trading. The barometer index yesterday lost 1,408 to 17,605.35 points on concerns regarding the US economy going into recession.