ALSO READMarket cap of BSE listed firms hits new high; crosses Rs 150 lakh crore Market cap of BSE listed firms hits new high Market fall wipes out Rs 5 lakh crore investor wealth in three days Telecom Commission to discuss relief measures for stressed telcos on Friday 5 stocks contribute over half of Sensex's market-cap gain in 2017
Investors' stock market wealth eroded by more than Rs 4 trillion on Friday after the BSE S&P Sensex slumped an over 800 points amid the Budget 2018 proposal to levy 10% long term capital gains tax (LTCG) on sale of equity investments. Negative cues from the global markets also hurt sentiment. The S&P BSE Sensex tumbled 2.34% or 840 points, to settle at 35,067, its biggest single-day fall in percentage terms since November 11, 2016, when the index plunged 2.54% or 699 points.
Nifty 50 index too, plunged 2.3% or 256 points to settle at 10,761. The S&P BSE Smallcap (down 4.6%) and the S&P BSE Midcap index plunged 4.6% and 4.3%, respectively. The total investor wealth, measured in terms of cumulative market value of all listed companies on BSE, plummeted by Rs 4.6 trillion and stood at Rs 148.55 trillion at the end of today's trade, the BSE data shows. Top four companies - Reliance Industries, Maruti Suzuki India, HDFC Bank and Housing Development Finance Corporation (HDFC) – have recorded a combined Rs 580 billion of total market-cap erosion in single days. Bharti Airtel, State Bank of India (SBI), ICICI Bank, UltraTech Cement, Axis Bank, Bajaj Finance, Larsen & Toubro (L&T) and Hindustan Zinc market-cap declined in the range of Rs 55 billion to Rs 81 billion. Among the sectoral classification, financials including banks have accounted nearly one-fifth or Rs 1 trillion of total market-cap lost today. Refineries sector lost Rs 360 billion, followed by automobiles (Rs 292 billion), cement (Rs 146 billion), power generation (Rs 138 billion), pharmaceuticals (Rs 129 billion), infrastructure (Rs 117 billion) and telecom (Rs 103 billion).
|Market-cap (Rs cr)||Price Rs|
|St Bk of India||256,286||-7,467||296.9||-2.8|
|Kotak Mahindra Bank||207,156||-6,258||1087.5||-2.9|
|Larsen & Toubro||198,162||-5,800||1414.4||-2.8|
|M & M||95,539||-3,587||768.5||-3.6|
|* Change over February 1, 2018|