Market crash wipes out Rs 3-lakh crore of investor wealth

An over 800 point fall in the S&P BSE Sensex has seen Investors lose over Rs 3 lakh crore in just one session today.

The investors' wealth, measured by the total BSE market capitalisation (m-cap), declined by Rs 318,245 crore to Rs 86,30,930 crore today as against Rs 89,49,175 crore on Tuesday.

S&P BSE Sensex slumped 807 points to close at 22,952 its lowest levels since May 9, 2014. The S&P BSE Smallcap and Midcap index ended lower by 4.6% and 3.3%, respectively, trading at their 52-week lows.

Thus far in 2016, total BSE m-cap declined by a whopping Rs 1,406,804 crore from Rs 10,037,734 crore as on December 31, 2015, according to the BSE.

Total 396 stocks have touched their respective 52-week lows on the BSE.  As many as 86 out of 298 stocks from the BSE ‘A’ hit 52-week lows today. The list includes Cipla, Bharat Heavy Electricals Limited (BHEL), Housing Development Finance Corporation (HDFC), ICICI Bank, Oil & Natural Gas Corporation (ONGC), State Bank of India (SBI), Tata Motors and Tata Consultancy Services (TCS), Hindalco Industries and Adani Ports.

SBI, TCS, ICICI Bank, Maruti Suzuki India, Tata Motors and ONGC have lost more than Rs 30,000 crore m-cap each thus far in the current calendar year.

Meanwhile, of the 2,481 non-A group stocks that are traded on the BSE, as many as 499 were locked in upper circuit levels and there were no sellers on the counter. Of these 15 stocks including Nagreeka Exports, Nahar Capital & Financial Services and Vakrangee were frozen lower circuit of 20%.  Around 65 stocks locked in lower circuit filter of 10% and 293 at 5%, the BSE data shows.