Nothing good is happening in the stock market amidst spreading cases of corona virus. Even the market experts are unable to understand where this decline of the market will come to a halt. Some experts are now calling it an abnormal decline. He says that it is very difficult to guess the market now. As of now, on Monday, the market went into a big decline as soon as it opened. At the same time, within 45 minutes the lower circuit started in the Sensex and the business had to be stopped for 45 minutes. The Sensex fell by 2992 points. With this decline, the market cap of listed companies on BSE has come down to 1,05,91,409.24 crore. That is, about 10 lakh crore rupees of investors were drowned in one session.
The Sensex had closed at 29,915.96 on Friday. During this period, the market cap of listed companies on BSE was Rs 1,16,09,143.29 crore. That is, investors lost about Rs 10 lakh crore in 45 minutes of trading. Talking only about March, about 40 lakh crores of investors have been cleared. The total market capitalization on 2 March was about Rs 1,45,80,863.90 crore.
The main reason for the decline in the market
Corona virus has its effects in 190 countries. Its total number of patients has increased to 3.37 lakhs. At the same time, the death figures due to this have increased to 14641. This has led to a lockdown situation around the world, making the industrial equity dull. Already the world was in danger of slowdown, now the trouble has increased.
Due to Corona virus, there has been a risk of the recession on economies across the world. Due to this, there is heavy selling in the American, Asian and European stock markets. The Dow Jones’ performance has been the worst since 1987.
The price waster has erupted since OPEC countries and non-OPEC countries have not agreed to reduce crude production. After which the biggest drop in crude since 1991. Crude is trading at a level of $ 26 a barrel, 60 percent cheaper this year.
This month, many global agencies have said about the possible slowdown, reducing the estimate of global growth. S&P Global Ratings has said that the global economy is entering a period of great recession amidst growing threat of corona virus.
Daily investors lost Rs 3 lakh crore in March
If we talk about February 28, then the market cap of listed companies on BSE was more than Rs 1.46 lakh crore. At the same time, by 10 am on 23 March 2020, it reduced to Rs 1.05 lakh crore. That is, it decreased by about 41 lakh crores in the 13 business days of March. In this sense, if we look at the average daily, then it is close to 3 lakh crores. That is, 3 lakh crores of investors are getting cleaned daily in the month of March.
Which day how much market cap
2 March 1,45,80,863.90 crore
3 March 1,48,19,366.75 crore
4 March 1,47,04,461.76 crore
5 March 1,47,59,908.91 crore
6 March 1,44,31,224.41 crore
9 March 1,37,46,946.76 crore
11 March 1,37,13,558.72 crore
12 March 1,25,70,652.63 crore
13 March 1,29,26,242.82 crore
16 March 1,21,63,952.59 crore
17 March 1,19,52,066.11 crore
18 March 1,13,53,329.30 crore
19 March 1, 09,76,781.00 crore
20 March 1,16,09,143.29 crore
23 March 1,05,91,409.24 crore (till the time of writing the news)