NEW DELHI, Jan. 22 (Xinhua)-- Investors lost 6.55 trillion rupees (some 160 billion U.S dollars) on Tuesday within minutes of opening of the Bombay Stock Exchange, which was immediately suspended for an hour after the 30-share barometer index Sensex hit the circuit limit of 10 percent.
This loss comes on top of over 11 trillion rupees (some 300 billion dollars) loss suffered by investors in the last six days.
The Sensex lost 5,251.15 points in last seven trading sessions including Tuesday's early morning trade till suspension, while investors' wealth -- measured in terms of cumulative market capitalization of all the listed companies -- has declined by a whopping 18.4 trillion rupees (some 501.8 billion dollars).
As per information available on the Bombay Stock Exchange website, the total market capitalization stood nearly at 60 trillion rupees (1.63 trillion dollars) at the end of Monday's trading against 71 trillion rupees (1.93 trillion dollars) before bourses began business last week on January 14.
The 30-share barometer Sensex tumbled 2,029.05 points to 15,576.30 within minutes of start of trading Tuesday. Monday it lost 1,408 to 17,605.35 points on concerns regarding the US economy going into recession.
Indian Prime Minister Manmohan Singh Monday said he was confident the local stock market would grow in an orderly manner despite a vicious sell off on Monday.
"Let me say orderly growth of the capital market is a priority concern for our government," said Singh.
A sharp fall in the Indian stock market on Monday was triggered by uncertainties in the global economy and was in no way related to any change in India's economic fundamentals, a statement of the government said.
"The fundamentals in the domestic economy are quite strong. Today's market fall reflects the continuing uncertainties in the global economy and not any change in the fundamentals of the Indian economy," the government said in the statement.
Editor: Feng Tao
www.chinaview.cn
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment