Mumbai: After Tuesday's sell-off, Indian market has lost one more key title — that of being a trillion dollar market.
As the market barometer Sensex plunged to a fresh 52-week low, the total size of the market on Tuesday dipped to Rs 52,60,441 crore, measured in terms of total value of all the listed companies in the country.
With the Indian rupee closing at 52.88 per dollar, India's market capitalisation has fallen below USD 1 trillion in dollar terms.
The market size has been hovering above the trillion- dollar mark for last few days and an eminent miss was averted on Thursday last week, when the RBI managed to reverse the downfall of rupee after a record fall to Rs 54.30 level.
On 31st December 2010, total market capitalisation of BSE was at Rs 72,94,571 crore.
The Indian market had first achieved a trillion-dollar size about four and half years ago on May 28, 2007, but moved out of this coveted league about a year later on July 1, 2008.
India again joined this elite club of markets with trillion-dollar valuation about a year later on June 3, 2009.
The Indian market was, in fact, seen inching towards the two-trillion dollar mark at least twice in the past -- first in early 2008 and then at the beginning of 2011 with a size as high as USD 1.9 trillion.
However, a sharp plunge in the market this year has led to its valuation falling by close to Rs 20 lakh crore (over USD 500 billion) and currently faces a high risk of losing its trillion-dollar tag.
Comments
0 comment