BSE m-cap at lowest since June 2017; investors lose Rs 33-trn in a month
The total market capitalisation of companies listed on the Bombay Stock Exchange (BSE) hit an over 32-month low on Thursday as the benchmark indices crashed over 7 per cent after the World Health Organization (WHO) declared the worldwide outbreak of the new coronavirus as pandemic.
Investors had lost a whopping nearly Rs 11 trillion in the stock markets till 11:10 am today. The total investor wealth, measured in terms of the cumulative market value of all listed stocks on the BSE, fell by Rs 10.97 trillion to Rs 126.15 trillion, exchange data shows.
The market capitalization (market-cap) of the BSE-listed firms stood at Rs 137.13 trillion, on Wednesday. In the past one month, investors have lost Rs 33.5 trillion market cap. Earlier, on June 30, 2017, the total market-cap of all BSE listed companies stood at Rs 125.96 trillion, data shows.
The S&P BSE Sensex hit an intra-day low of 32,990, down 7.6 per cent, or 2,707 points today. The index has tanked 21 per cent from the level of 41,566 on February 29, 2020.
A total of 13 stocks from the 30--share S&P BSE Sensex have seen their market-cap decline by more than 20 per cent in the last one month. This includes Reliance Industries (RIL), Housing Development Finance Corporation (HDFC), ICICI Bank, Bajaj Finance, State Bank of India (SBI), ITC, Mahindra & Mahindra (M&M), Tata Steel and IndusInd Bank.
RIL was the top destroyers in value terms, with the Rs 2.5 trillion market-cap eroded since February 12, 2020. TCS and HDFC Bank lost Rs 1.33 trillion and Rs 1.17 trillion in market-cap, respectively. HDFC, SBI, ICICI Bank, ITC, Bajaj Finance, Axis Bank, Infosys and ONGC lost market-cap between Rs 50,000 crore and Rs 88,000 crore during the period.
Among other stocks from the S&P BSE 100 index, Indiabulls Housing Finance, Tata Motors, Indiabulls Housing Finance, Motherson Sumi Systems, Vedanta, RBL Bank, LIC Housing Finance, GAIL (India), Tata Power, Hindalco Industries and Bank of Baroda were down between 33 per cent and 51 per cent in one month.