 "Markets down, Stocks, Shares")
Investors have lost a whopping amount of Rs 18 trillion in the stock market in past two months with Rs 2.3 trillion being wiped out in Friday’s trade so far, amidst a global sell off over concerns related to a trade war between the US and China.
The S&P BSE Sensex and Nifty 50 index were down 1.4% today, falling 10% in past two months. Total investor wealth, measured in terms of cumulative market value of all listed stocks on BSE, fell by Rs 18 trillion during the period to Rs 138.56 trillion at 10:55 AM; the exchange data shows.
The total market valuation of all listed firms on BSE had hit a record high level of Rs 156.57 trillion levels on January 23, 2018.
State Bank of India (SBI), the government owned bank, hit the worst with total market capitalization (market-cap) of the lender declined by Rs 727 billion to Rs 2,018 billion today.
According to media report, the Central Bureau of Investigation (CBI) has registered a case on a complaint from SBI of alleged loan fraud of Rs 8.24 billion committed by Chennai-based Kanishk Gold Pvt Ltd.
The BSE said the exchange has sought clarification from SBI with respect to news article titled "SBI registers Rs 8.24 billion bank fraud case against Kanishk Gold with CBI". The reply is awaited.
Reliance Industries (RIL), the second largest loser in terms of market-cap, with erosion of Rs 563 billion, followed by ICICI Bank (Rs 556 billion) and Tata Consultancy Services (Rs 542 billion) have lost more than Rs 500 billion market-cap in past two months.
Oil and Natural Gas Corporation (ONGC), Bharti Airtel, Axis Bank, Tata Motors, HDFC Bank, Vakrangee, Indian Oil Corporation and ITC have seen their market-cap erosion between Rs 250 billion and Rs 370 billion.
The S&P BSE Sensex and Nifty 50 index were down 1.4% today, falling 10% in past two months. Total investor wealth, measured in terms of cumulative market value of all listed stocks on BSE, fell by Rs 18 trillion during the period to Rs 138.56 trillion at 10:55 AM; the exchange data shows.
The total market valuation of all listed firms on BSE had hit a record high level of Rs 156.57 trillion levels on January 23, 2018.
State Bank of India (SBI), the government owned bank, hit the worst with total market capitalization (market-cap) of the lender declined by Rs 727 billion to Rs 2,018 billion today.
According to media report, the Central Bureau of Investigation (CBI) has registered a case on a complaint from SBI of alleged loan fraud of Rs 8.24 billion committed by Chennai-based Kanishk Gold Pvt Ltd.
The BSE said the exchange has sought clarification from SBI with respect to news article titled "SBI registers Rs 8.24 billion bank fraud case against Kanishk Gold with CBI". The reply is awaited.
Reliance Industries (RIL), the second largest loser in terms of market-cap, with erosion of Rs 563 billion, followed by ICICI Bank (Rs 556 billion) and Tata Consultancy Services (Rs 542 billion) have lost more than Rs 500 billion market-cap in past two months.
Oil and Natural Gas Corporation (ONGC), Bharti Airtel, Axis Bank, Tata Motors, HDFC Bank, Vakrangee, Indian Oil Corporation and ITC have seen their market-cap erosion between Rs 250 billion and Rs 370 billion.
