Stock market: Coronvirus sunk Rs 52 lakh crore to buyers

by Jeremy Spirogis
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New Delhi. If you need to know the harm carried out to the Indian economic system because of coronavirus, then we provide you with some statistics right here. First of all, tell us that because of the devastation attributable to Coronavirus within the inventory market, buyers have misplaced Rs 52 lakh crore. This is about 40 per cent of India's GDP for the final monetary yr. Explain that on 31 December 2019, the market cap of the full listed firms of BSE was Rs 155.53 lakh crore, which fell to Rs 103 lakh crore by 23 March. This loss is sort of 7 occasions the revised fiscal deficit goal of Rs 7.67 lakh crore for FY 2019-20. Combined with different figures, this a lot cash is thrice the estimated receipts of the federal government for the present fiscal yr and double the estimated complete expenditure for the following monetary yr. <! –

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Loss in extra of GDP of many international locations

Investors' property fell by Rs 14.22 lakh crore because of the sell-off within the inventory market on Monday, which is greater than the GDip of Algeria and different 130 international locations. Monday was the worst day in historical past for inventory indices. The Nifty fell 1135 factors to a 4-year low of 7610 and the Sensex dropped by 3935 factors to 25981. Experts have estimated the Nifty to fall to 7200-6200. At current, the state of affairs is a mirrored image of the decline within the inventory markets in 2008.

37 p.c drop in indices

In 44 periods, the benchmark indices have fallen by 37 per cent, ie, property have sunk to the tune of 40 per cent of the nation's annual GDP in simply 44 days. Earlier in 2008, the benchmark index had dropped 66 per cent in 200 periods and 28 per cent in 275 days in 2011. Explain that the market has fallen by Rs 25.96 lakh crore in massive cap shares and Rs 7-7 lakh crore in mid and small cap shares. On the opposite hand, the wealth of the wealthy businessmen of the nation has fallen by Rs Four lakh crore up to now this yr within the wealth of the highest 14 billionaires, of which the highest 2 have misplaced Rs 1.85 lakh crore.

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