Rs 81,876 Crore M-Cap Eroded Since Sept 11

Market capitalisation of Rs 81,876 crore has been eroded in the eight trading sessions since September 11, 2001. The market cap of scrips traded on the BSE which was ruling at Rs 5,05,810 crore on September 11, 2001 declined to Rs 4,23,934 crore on September 21, 2001, reflecting a drop of 16.2 per cent. Almost 85 per cent stocks have ended lower on September 21, compared to their value of September 11, and 34 per cent of the actively traded stocks on the BSE have fallen more in value than the BSE sensex.

The top five sectors ranked by market cap accounted for 70.9 per cent of the fall in market cap, with software stocks ending up as the biggest loser, accounting for 38.1 per cent of the total fall. The market cap of IT companies declined by 37.73 per cent (Rs 31,174 crore) to Rs 51,449 crore.

Petrochemicals has been the second worst shedding Rs 9,566 crore in market capitalisation (28.04 per cent drop) followed by refineries, down by Rs 8,252 crore (14.3 per cent), personal care, down Rs 4,559 crore (8.33 per cent) and banks, down Rs 4,469 crore (16 per cent).

In absolute terms, software giant Wipro has been the biggest loser with a Rs 14,002 crore erosion in market capitalisation. The Wipro scrip has declined by 40.43 per cent in value since September 11. Reliance Industries