Investors lose Rs 4.6 trillion as Sensex slips 840 points

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
Company	02/02/2018	Change*	02/02/2018	% chg*
Reliance Inds.	573,682	-24,323	905.7	-4.1
Maruti Suzuki	271,881	-12,163	9000.3	-4.3
HDFC Bank	505,142	-11,263	1948.8	-2.2
HDFC	304,087	-10,249	1903.4	-3.3
Bharti Airtel	167,011	-8,095	417.8	-4.6
St Bk of India	256,286	-7,467	296.9	-2.8
ICICI Bank	215,061	-7,034	334.8	-3.2
UltraTech Cem.	113,773	-6,745	4143.8	-5.6
Axis Bank	144,879	-6,475	565.0	-4.3
Kotak Mahindra Bank	207,156	-6,258	1087.5	-2.9
Bajaj Fin.	93,929	-5,895	1629.3	-5.9
Larsen & Toubro	198,162	-5,800	1414.4	-2.8
Hind.Zinc	124,478	-5,556	294.6	-4.3
Bajaj Auto	93,830	-4,830	3242.6	-4.9
PC Jeweller	14,418	-4,653	365.6	-24.4
DLF	39,811	-3,854	223.2	-8.8
Grasim Inds	74,147	-3,776	1128.0	-4.8
M & M	95,539	-3,587	768.5	-3.6
GAIL (India)	78,646	-3,577	465.0	-4.4
IOCL	198,801	-3,472	409.4	-1.7
ONGC	246,976	-3,401	192.5	-1.4
Tata Motors	121,864	-3,364	384.1	-2.7
NTPC	136,133	-3,216	165.1	-2.3
Vakrangee	27,857	-3,092	263.1	-10.0
BPCL	103,267	-3,059	476.1	-2.9
* Change over February 1, 2018