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Rs 5.66 lakh crore investor wealth wiped out in 4 days of market crash

M-cap of BSE-listed firms fell to Rs 1,50 lakh crore from Rs 1,56 lakh crore on September 14.

Updated: Sep 21, 2018, 05.20 PM IST
NEW DELHI: Stock investors on Dalal Street have become poorer by Rs 5,66,187 crore in just four sessions of market fall, which saw the BSE benchmark index crashing 1,249 points, or 3.28 per cent. On Friday alone, the m-cap of all BSE-listed companies fell by Rs 2,02,433.26 crore.

After a flash crash of 1,128 points with a matter of minuted, the 30-share Sensex recovered most of the losses to close at 36,841.60, 279.62 points, or 0.75 per cent down. Only 13 stocks in the index managed to end with gains.

The Nifty50 plunged 368 points intraday and eventually closed at 11,143.10, with a loss of 91.25 points, or 0.81 per cent. Among the 50 stocks in the index, 23 settled in the positive terrain and 27 in the negative zone.

Commenting on the Friday’s session, Vinod Nair, Head of Research at Geojit Financial Services said: “Market cautiously viewed YES Bank’s sharp correction and RBI’s open market operation. Later, the tension escalated under the fear of liquidity crunch and tighter norms by the RBI. Cascading impact was seen in high beta and valued stocks and sectors, in expectation of tightened liquidity.”

Friday was the fourth consecutive fall for Sensex and Nifty. Sensex has lost 1,249 points, or 3.28 per cent even as Nifty fell 372 points or 3.23 per cent in the last four sessions.

On account of sharp fall in financial, bank, pharma and realty stocks, the market capitalisation (m-cap) of BSE-listed companies plunged from Rs 1,56,37,019.15 crore to Rs 1,50,70,832.18 crore since last Friday.

On a weekly basis, Sensex and Nifty fell for the third consecutive week.

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