• Wednesday, September 18, 2019

Rs. 12.5 Lakh Crore of Investors' Wealth Gone In 100 Days Of Government

Discussion in 'Central & South Asia' started by N.Siddiqui, Sep 10, 2019.

  1. N.Siddiqui

    N.Siddiqui SENIOR MEMBER

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    Rs. 12.5 Lakh Crore of Investors' Wealth Gone In 100 Days Of Government

    The Sensex has slumped 5.96 per cent or 2,357 points and the NSE Nifty 50 index has dropped 7.23 per cent or 858 points since May 30.
    Market | Written by Abhishek Vasudev | Updated: September 10, 2019 12:47 IST



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    Since the formation of government, foreign portfolio investors have sold shares worth Rs. 28,260.50 crore.


    Investors' wealth worth Rs. 12.5 lakh crore has been wiped out in the first 100 days since the second term of Prime Minister Narendra Modi's government started on May 30. At yesterday's closing, the market capitalisation or market value of companies listed on BSE stood Rs. 1,41,15,316.39 crore as against market capitalisation of Rs. 1,53,62,936.40 crore a day before PM Modi's government came to power.

    The Sensex has slumped 5.96 per cent or 2,357 points and the NSE Nifty 50 index has dropped 7.23 per cent or 858 points since May 30.

    Slowing economic growth, along with outflow of foreign funds and weak corporate earnings, are some of the reasons for the slump in equity markets, say analysts.

    Foreign investors have been net sellers in the Indian markets. The pressure to sell increased after Finance Minister Nirmala Sitharaman introduced the super-rich tax on foreign investors in the first Budget of second NDA government, which was rolled back a month later.

    Since the formation of government, foreign portfolio investors have sold shares worth Rs. 28,260.50 crore, data compiled by National Securities Depository Limited (NSDL) showed.

    "The slowdown in the markets started way before the Prime Minister Modi's second term in power. The introduction of long term capital gains tax and dividend distribution tax in February 2018 budget led to the start of fall in equity market valuations and the slump in markets accelerated in the aftermath of the IL&FS crisis," AK Prabhakar, head of research at IDBI Capital, told NDTV.

    "A lot of mid- and small-cap space companies have corrected big and are at reasonable valuations. IL&FS crisis had a cascading effect on markets and the things are likely to recover from here on," added Mr Prabhakar.

    All sector gauges compiled by National Stock Exchange except the Nifty Information Technology index have given negative returns over the last 100 days, with Nifty PSU Bank index dropping 26 per cent. Last month, the government announced mega mergers of state-run banks in which number of government-owned banks will be reduced to 12 from 27.

    Metal index dropped 20 per cent in the wake of increased trade frictions between US and China. Analysts say despite the anti-dumping duty, China is selling cheap steel which is hurting the domestic metal companies.

    Nifty Auto index has slumped 13.48 per cent as auto industry faces its worst slowdown in two decades. "We saw massive rise in autos in the last five years so the slowdown is also visible now. We never saw runaway sales in four wheelers. The way Maruti Suzuki has grown in the last 5 years has been amazing," Mr Prabhakar said.


    COMMENT
    Nifty Bank, Private Bank, Media and Realty sector gauges have also slumped between 10-14 per cent.


    https://www.ndtv.com/business/rs-12...-days-of-government-2098466?pfrom=home-livetv
     
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  2. N.Siddiqui

    N.Siddiqui SENIOR MEMBER

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    How much is 12.5 lac crore??

    12.5,000,000,000,000

    or 12.5 trillion Rupees.
     
  3. Yaseen1

    Yaseen1 SENIOR MEMBER

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    indian economy is moving towards disaster,kashmir will drown whole india
     
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  4. mikkix

    mikkix SENIOR MEMBER

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    Actually you add 1 zero extra. It must be 12,500,000,000,000
     
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  5. notmycolon

    notmycolon FULL MEMBER

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    1 lakh crore is $13 billion
     
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  6. Hallian_Khan

    Hallian_Khan FULL MEMBER

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    That means round abt $150 billion?
     
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  7. war&peace

    war&peace ELITE MEMBER

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    Good job agent Modi

    Auto sector has gone down 41%...and textiles are even worse
     
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  8. PakSword

    PakSword ELITE MEMBER

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    USD 173,743,750,000 according to current exchange rate.
     
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  9. newb3e

    newb3e SENIOR MEMBER

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    Modi hai toh mumkin hai!!

    mandir yaheen bannay ga!
     
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  10. newb3e

    newb3e SENIOR MEMBER

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    YellowGold in glass bottle is the reason why india is an ecomomic power there must bw what 700 million hindus in india so YellowGold provides employment to 700 mil and since Mata g ki pishi is ayovedic its gives them super human intelligence and 700 Million hindus do miracle everyday from science to medicine they are the smartest creatures alive all thanks to Mata ki pishi! the only side effect is it overwhelmig and makes them excited hence the epidemic of Rape in indian society
     
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