August Agony Cost Investors Rs.1.13 Crore Every Second

August Agony Cost Investors 1.13 Crore Every Second

Wednesday, 31 August 2011, 13:48 Hrs
Printer Print Email Email
Mumbai: August was a month of agony for investors as they lost more than Rs 1 crore in every second of trade, on an average, taking the total losses for the market to over 5.5 lakh crore.

It was also the worst month for investors since January 2011, when the average loss per second of trade was about 1.5 crore.

The benchmark index lost over 1,500 points in the entire month, while the investor wealth plummeted by 5,55,650 crore -- the biggest monthly loss since January 2011 when the market had lost little over 7,00,000 crore.

There were 21 trading days during August, with each day having 23,400 seconds of trade. This puts the average loss for every second at 1.13 crore for the month.

The losses would have been much higher, but for a sharp rebound in the last two days of trading, when the market rose by over 5 per cent with an over 800-point rise in the Sensex and about Rs 3 lakh crore gain in investor wealth.

The average loss for one day was about 26,500 crore. This includes losses for all the investor classes -- promoters as well as public shareholders of over 4,000 actively traded companies in the stock market.

This is based on decline in the value of all listed stocks, which fell to Rs 60,61,625 crore at the end of August.

Adding to the investors' agony, August proved to be the fourth consecutive month of monthly losses.

The markets also recorded losses in July (Rs 1,13,673 crore), June (Rs 921 crore) and May (Rs 1,76,220 crore) -- taking the total four-month loss to 8,50,000 crore.
Source: PTI
Write your comment now
Submit Reset