August 5, 2011 / PTI, Mumbai / DC.
Friday, August 5, 2011
MARKET MAYHEM: BSE Sensex crash erodes over Rs 1.3 lakh crore from investors!
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Investors were left poorer by over Rs 1.33 lakh crore after today's stock market crash, even as the market managed to recover nearly half of the losses suffered earlier during the day.
The plunge in investors' wealth, which is notional in nature and is measured in terms of cumulative value of all listed stocks, was more than Rs 2.5 lakh crore at one point of time when the benchmark Sensex had plunged over 700 points to below the 17,000-point level.
However, the markets managed to recover nearly half of the losses and some buying at lower levels in afternoon trade helped the Sensex close 387.31 points down at Rs 17,305.87.
Still, at the end of the day, the total investors' wealth stood at Rs 6,349,524.09 crore - down from Rs 6,482,649.67 at the end of yesterday's market closing, as per the BSE data.
The cumulative losses for investors over the past four trading sessions is estimated at about Rs 4 lakh crore, as the Sensex fell by about 1,000 points in this period.
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