Investor wealth dropped by Rs 37.59 lakh crore in 2019-20 fiscal, led by a weak broader market where the BSE benchmark tanked nearly 24 per cent. The 30-share BSE Sensex ended 2019-20 with a loss of 9,204.42 points or 23.80 per cent, while the Nifty sank 3,026.15 points or 26.03 per cent.
Led by the massive sell-off in equities, the market capitalisation of BSE-listed companies fell by Rs 37,59,954.42 crore to Rs 1,13,48,756.59 crore during the financial year.
March turned out to be a nightmare for the markets, as the benchmark Sensex plunged a whopping 8,828.8 points or 23 per cent during the month as the coronavirus pandemic led to lockdowns across the world, fanning fears of a global recession.
Selling in the market was so strong that the benchmark index came crashing to its one-year low of 25,638.9 on March 24 -- just two months after scaling its all-time peak of 42,273.87 on January 20.
The market capitalisation (m-cap) of BSE-listed companies had risen by Rs 8,83,714.01 crore to Rs 1,51,08,711.01 crore in 2018-19 fiscal.
Markets had achieved big milestones in the just-concluded fiscal, with the BSE Sensex crossing the historic 40,000-mark and the broader NSE Nifty conquering the 12,000-level.
Selling in market heavyweights also dragged down the overall m-cap of BSE-listed companies in 2019-20.
RIL is currently the country's most valued firm with a market valuation of Rs 7,05,211.81 crore, followed by TCS at Rs 6,84,078.49 crore.