Investors have lost nearly Rs 11,00,000 crore in the stock market in less than three months since Diwali 2010.
The stock market today plunged to its lowest level in nearly five months after three consecutive days of fall amid macro-economic concerns emanating from inflationary and governance deficit related factors. The Sensex has now fallen to 18,395.97 points — marking a plunge of over 2,600 points since Diwali.
Experts said that downward pressures in the market extended well beyond the past three days and heavy selling pressure has continued for over two months now, primarily due to heavy outflows by overseas and domestic investors keeping away in the absence of any positive triggers.
In the process, the total investor wealth has fallen to near Rs 66,00,900 crore — a huge dip of close to Rs 11,00,000 crore since last Diwali on November 5, 2010, the day when the Sensex scaled its record closing level of 21,004.96 points.