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Market fall wipes out Rs 5 lakh crore investor wealth in three days

BSE's total market capitalisation declined by Rs 529,590 crore to Rs 127,98,957 crore today.

SI Reporter  |  Mumbai 

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Investors lost a whopping nearly Rs five lakh crore in the last three trading sessions as the BSE's corrected over 700 points in line with a global market crash.

The S&P BSE was down 267 points or 0.84% at 31,531, falling 743 points from 32,274 levels on August 7.

The investors' wealth measured by the total BSE (m-cap), declined by Rs 529,590 crore to Rs 127,98,957 crore today as against Rs 133,28,547 crore on Monday, the BSE data shows.

Tata Motors, State Bank of India (SBI), Sun Pharmaceutical Industries, and Indian Oil Corporation (IOC) have lost more than Rs 10,000 crore in past three trading sessions.

ITC, Bharat Petroleum Corporation (BPCL), Bajaj Finance, Coal India, Maruti Suzuki India, ICICI Bank, HDFC Bank and Cadila Healthcare have lost the market wealth in the range of Rs 7,000 crore to Rs 10,000 crore.

was down 9% to Rs 381, its lowest closing level since  May 11, 2016, after the company reported disappointing April-June quarter (Q1FY18) performance with sharp fall in operational performance of Jaguar Land Rover (JLR). It lost m-cap of Rs 15,814 crore in past three trading sessions.

Sun Pharma has seen m-cap erosion of Rs 10,989 crore on expectation of poor quarterly results. The board of directors of the company is scheduled to meet on Friday, August 11, 2017 to consider the unaudited financial results for the quarter ended June 30, 2017.

The company’s unit Taro Pharmaceutical Industries’ net income halved to $54.5 million in Q1FY18 against $109.9 million in the same quarter last year.

  Price on BSE in Rs M-cap Rs crore
Company 07/08/2017 10/08/2017 % chg 10/08/2017 Lost*
Tata Motors 430.45 380.90 -11.5 121243 -15814
SBI 311.10 296.55 -4.7 255983 -12560
Sun Pharma 505.95 460.15 -9.1 110404 -10989
Reliance Inds. 1616.60 1584.05 -2.0 515118 -10585
IOCL 431.30 410.60 -4.8 199383 -10052
BPCL 527.45 481.45 -8.7 104439 -9979
Bajaj Finance 1794.45 1638.40 -8.7 90094 -8581
ITC 280.00 273.10 -2.5 332447 -8399
Coal India 251.30 239.05 -4.9 148388 -7604
Maruti Suzuki 7839.45 7591.00 -3.2 229309 -7505
           
*Market capitalisaton (M-cap) erosion over August 7, 2017

First Published: Thu, August 10 2017. 16:42 IST
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