Stocks of 964 firms gained as markets bled

Stocks of 964 firms gained as markets bled

Mumbai: Dalal Street may have lost about Rs4 trillion in market value in the past 15 trading days, but investors in one-third of the listed companies gained roughly Rs60,000 crore during this period.

The stock market’s benchmark index, the Sensex, has lost more than 1,000 points since 27 July, the day when concerns related to the US subprime crisis spread to Indian bourses.

The total investor wealth, measured in terms of market value of all the listed companies, has plunged to about Rs42 trillion from more than Rs46 trillion on 26 July.

But as many as 964 companies—nearly 35% of the nearly 2,760 actively traded stocks on the bourses—have seen their market value growing. Most stocks that gave positive returns were from the small-cap and mid-cap universe. However, a few big names such as National Mineral Development Corp., MMTC, Axis Bank, Ambuja Cement, Hindustan Copper, IFCI and IDBI also figure in the list. The cumulative market cap of all 964 firms rose to Rs3.81 trillion from about Rs3.24 trillion before 27 July.