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Shares of oil and gas, metal and real estate companies took the sharpest knock in nearly 2,000 point correction in the S&P BSE Sensex so far during December.
The S&P BSE Sensex which closed 26,781 on Tuesday, has lost 1,913 points or 6.6%, from its record closing high of 28,694 on November 28. The 50-share CNX Nifty Index has also declined 520 points at 8,068 from its lifetime high 8,588.
Among sectoral indices, the S&P BSE Oil & Gas Index has been the worst hit, slipping 12% during the current month due to a fall in crude oil prices. While the S&P BSE Realty and Metal indices have plunged nearly 11% each, the S&P BSE Power index has slipped 10%. Capital Goods (down 9%) and IT (down 8%) indices have also lost ground.
The broader market, however, has outperformed marginally with the S&P BSE Small-cap index declining 5.7% and S&P BSE Mid-cap by 4.9% during this period. Total investor wealth, measured in terms of cumulative market value of all listed companies, plummeted by Rs 539,284 crore and stood at Rs 9,443,280 crore at the end of day. It was Rs 9,982,564 crore on November 28.
Of the BSE-500 companies, the market value of 112 stocks declined by more than 10% each, while another 93 stocks have seen value erosion between 7-10% during the period.
Among individual stocks, Reliance Industries (RIL), Oil and Natural Gas Corporation (ONGC), Gail India, Infosys, Tata Steel, Hindalco Industries, Sesa Sterlite, Tata Power Company, Dr Reddy’s Laboratories and Bharat Heavy Electricals are from the 30-share Sensex have declined more than 10% each during the period.
Aban Offshore, HCL Infosystems, Elder Pharmaceuticals, Housing Development and Infrastructure (HDIL), PMC Fincorp and Kailash Auto Finance tanked more than 25% each. SpiceJet, Chennai Petroleum, PC Jeweller, Unitech, CCL International, Amtek India, Havells India, India Cements, Indiabulls Real Estate and Jain Irrigation Systems declined between 20-25%.
The S&P BSE Sensex which closed 26,781 on Tuesday, has lost 1,913 points or 6.6%, from its record closing high of 28,694 on November 28. The 50-share CNX Nifty Index has also declined 520 points at 8,068 from its lifetime high 8,588.
Among sectoral indices, the S&P BSE Oil & Gas Index has been the worst hit, slipping 12% during the current month due to a fall in crude oil prices. While the S&P BSE Realty and Metal indices have plunged nearly 11% each, the S&P BSE Power index has slipped 10%. Capital Goods (down 9%) and IT (down 8%) indices have also lost ground.
The broader market, however, has outperformed marginally with the S&P BSE Small-cap index declining 5.7% and S&P BSE Mid-cap by 4.9% during this period. Total investor wealth, measured in terms of cumulative market value of all listed companies, plummeted by Rs 539,284 crore and stood at Rs 9,443,280 crore at the end of day. It was Rs 9,982,564 crore on November 28.
Of the BSE-500 companies, the market value of 112 stocks declined by more than 10% each, while another 93 stocks have seen value erosion between 7-10% during the period.
Among individual stocks, Reliance Industries (RIL), Oil and Natural Gas Corporation (ONGC), Gail India, Infosys, Tata Steel, Hindalco Industries, Sesa Sterlite, Tata Power Company, Dr Reddy’s Laboratories and Bharat Heavy Electricals are from the 30-share Sensex have declined more than 10% each during the period.
Aban Offshore, HCL Infosystems, Elder Pharmaceuticals, Housing Development and Infrastructure (HDIL), PMC Fincorp and Kailash Auto Finance tanked more than 25% each. SpiceJet, Chennai Petroleum, PC Jeweller, Unitech, CCL International, Amtek India, Havells India, India Cements, Indiabulls Real Estate and Jain Irrigation Systems declined between 20-25%.
