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Investor wealth down Rs 7 lakh crore as stocks tumble in FY16
Investor wealth fell by nearly Rs 7 lakh crore during the 2015-16 fiscal, or over Rs 2,700 crore per trading session, as economic headwinds played spoilsport globally with equities.
Mumbai: Investor wealth fell by nearly Rs 7 lakh crore during the 2015-16 fiscal, or over Rs 2,700 crore per trading session, as economic headwinds played spoilsport globally with equities.
In its worst show in four fiscals, the market benchmark Sensex today ended 2015-16 with a yearly plunge of 9.36 percent, leaving investors poorer by nearly Rs 7 lakh crore as global headwinds and foreign fund outflows pounded domestic equities during the year.
The decline in investor wealth came in contrast with addition of over Rs 27 lakh crore during 2014-15 fiscal.
During the fiscal 2015-16, the BSE benchmark Sensex tumbled 2,615.63 points or 9.35 percent to 25,341.86 from 27,957.49 on March 31, 2015. The gauge touched its 52-week low of 22,494.61 on February 29, 2016.
Led by the weak trend in the stock market, investor wealth declined by Rs 6.73 lakh crore to Rs 94.75 lakh crore in 247 trading days.
Market capitalisation of BSE-listed firms stood at Rs 101.49 lakh crore as on March 31, 2015.
In the first outflow of overseas funds from Indian capital markets in seven years, foreign portfolio investors (FPIs) took out an estimated amount of Rs 18,000 crore during the fiscal 2015-16.