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.
 "Market fall wipes out Rs 5 lakh crore investor wealth in three days")
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Investors lost a whopping nearly Rs five lakh crore in the last three trading sessions as the BSE's Sensex corrected over 700 points in line with a global market crash.
The S&P BSE Sensex 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 market capitalisation (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, Reliance 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.
Tata Motors 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 | |||||
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