Indian markets lose $100 billion in 4 days

The Indian rupee’s free fall has dragged down the stock market for four consecutive days leaving  investors poorer by over $100 billion. 

In terms of total market capitalization of all listed companies, the investor wealth in Indian stocks fell to Rs58,60,000 crore on Wednesday — registering a loss of Rs1,09,000 crore from Tuesday’s level.

The BSE Sensex lost 340 points to close below the 18,000 level on Wednesday — taking its total fall in last four trading sessions to over 1,400 points. 

During the same period, the total market capitalization has plunged by more than Rs4.35 lakh crore. The loss in terms of US dollar is much sharper, given a depreciation of about five per cent in Rupee value in the past four trading days, beginning August 16.

The rupee has hit a new bottom below 64.5 level against the US dollar, from a level of 61.43 on August 4.

In US dollar terms, the total market capitalization has fallen from $1,025 billion to little over $900 billion in the past four days. 

In the past 30 days, the Sensex fell by over 11 per cent, while it has dropped by more than seven per cent in the last seven days.

The markets did signs of revival earlier this year with the investors' wealth topping Rs 70 lakh crore mark and was inching closer to record high of Rs72 lakh crore scaled in January 2008.