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Moneycontrol India :: News :: Investors lost nearly Rs 4 lakh cr today :: :: Market Edge :: Nifty ,NSE ,Sensex

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Investors lost nearly Rs 4 lakh cr today

2008-01-23 11:23:49 Source : MC

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The markets closed in red but showed remarkable recovery and were off the lows. It was yet another scary session which opened with circuit down and the markets were shut for an hour then recovered a bit after opening but continued to witness some wild swings.However, markets got some buying support towards the end with some positive cues of recovery in European markets.The Finance Ministry has ruled out foul play in the stock market.

Nifty ended down 310 points recovered nearly 450 points from the day's low.

NSE Advance:Decline ratio was at 1:18; which was as bad as 1:87 at one of time. Sensex closed down over 850 points, it recovered over 1400 points from the day's low.

By the time Sensex shut shop today, investors had already lost nearly Rs 4 lakh crore in todays trading session. (Yesterday the figure was Rs 6.6 lakh crore). The market cap of all the companies listed on BSE as at the end of 21st january 08 was Rs 5953525.87 crore which reduced to Rs 5556176.85 crore at the end of todays trade. Overall the erosion in wealt was Rs 397349.02 cr.