India's market capitalisation down $274 billion in the past one year

The scorecard is worse for the BSE 500 index, where only one of four stocks have given positive returns since February last year

India’s market capitalisation is down by $274 billion, or 12 per cent, in dollar terms in the past one year. In comparison, the Sensex is down four per cent in dollar terms and has risen six per cent in local currency terms. 

The weakness in the rupee and broader markets has led to evaporation in the market cap. The rupee has depreciated by 10 per cent against the US dollar since February 2018. The broader market-based MidCap and SmallCap indices of the BSE are down 14 per cent and 24 per cent, respectively, during the same period. 

The one-year Sensex returns are