In just one trading session, Rs 3,00,457 crore of shareholder wealth was wiped out in the stocks listed on BSE. The total BSE market capitalisation (M-cap) has declined to Rs 65,11,927 crore on December 17 from Rs 68,12,384 crore on December 14.
A significant decline in M-Cap on December 17 was seen in Steel (-6.95%), aluminium (-6.02 ), electricity (-5.81%), construction (-5.68%), tea (-5.32%), telecommunications (-5.31%), oil & gas (-5.1%) and NBFC (-4.89%) stocks.
The Sensex declined by 769.48 points (3.84%) to end at 19,261.35 on December 17 from 20,030.83. The Nifty also declined by 270.70 points (4.42%) to close at 5,777 from 6,047.70 during the same period.
The market capitalisation of BSE ?A? group (211) also dropped by 4.71% (Rs 2,32,313 crore) in one session, from Rs 49,28,986 crore to Rs 46,96,673 crore on Monday.
M-cap of steel stocks registered a sharp decline. JSW Steel lost a whopping Rs 2,846 crore from its M-cap, a decline of 12.98% to Rs 19,079 crore over its December 14 level of Rs 21,926 crore. SAIL registered a decline of 7.2% to Rs 1,07,287 crore in its M-cap on Monday.
Beside steel stocks, companies like India Cements, TVS Motors, Indian Bank, HPCL, Sterlite Inds, Kotak Mahindra Bank and DLF also showed bearishness. DLF declined by 7.53% to Rs 1,60,980 crore and Indian Bank declined by 10.2% to Rs 7,946 crore.