Stock market investors on Thursday recouped all their losses incurred since October 17 when the bourses went into a tailspin on the P-Notes issue.
MUMBAI: Stock market investors on Thursday recouped all their losses incurred since October 17, when the bourses went into a tailspin on the P-Notes issue, even as the benchmark Sensex is yet to fully recover from the plunge.
The investors wealth, measured in terms of total market capitalisation of all the listed companies, on Wednesday rose to a new peak of Rs 58,89,943 crore, nearly Rs 18,500 crore higher than its previous peak of Rs 58,71,432 crore.
The previous record was struck on October 16, after which the market went into a sharp plunge and eroded over Rs four trillion from the investors' kitty in just three days. The Sensex lost close to 1,500 points during that period.
In Thursday's trading, the index rose 258 points to close at 18,770.89, after scaling an intra-day high of 18,900.10.
The index is still 427.77 points away from its all-time high of 19,198.66 struck during the day's trade on October 18.
Total investor wealth had dropped to Rs 54,65,000 crore at the end of trade on October 19, third day after the market regulator SEBI proposed measures to curb capital flow through offshore derivative instruments such as participatory notes.
Incidentally, on Thursday after the market close, SEBI announced that the new rules would be effective from tomorrow.
Of the total loss of over Rs 4,06,000 crore (about 102 billion dollars) during the three days, the 30 biggest blue- chip companies, belonging to the Sensex, suffered losses of nearly half the amount of Rs 1,96,800 crore.
Among the firms listed on the Sensex, 22 added to their market value today, while eight suffered losses. Across the market, over 58 per cent gained and about 40 per cent lost.
Major gainers included HDFC Bank, Tata Steel, L&T, Reliance Petroleum and RIL. Total 80 stocks hit their record highs and just one dipped to a record low on the BSE.
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