Investors lost Rs 19,00,000 crore in 2008-09
Investors in the Indian Bourses lost a whopping Rs 19,00,000 crore in the financial year 2008-09, with the Indian Stock Exchages crashing in the wake of the global economic meltdown.
The combined market valuation of all the listed companies in the country dropped to Rs 30,86,075 crore on March 31, 2009 from Rs 49,72,953.37 crore on March 31, 2008, leading to a loss of over Rs 18,86,000 crore during the fiscal year.
India’s top rung corporate giant, Reliance Industries, had an erosion of around Rs 89,460 crore from its market valuation during the fiscal 2008-09.
The benchmark index Sensex of the Bombay Stock Exchange (BSE), which accounts for around 48 % of the market capitalisation of all the listed companies, has suffered a loss of about Rs 10,00,000 crore for the fiscal ending March 31, 2009.