Market recovery brings back $200 Billion
However, the recovery so far is less than one-fourth of close to Rs 45,00,000 crore lost in the sharp downturn started in early 2008 and continued for more than a year till early-March this year.
The total investor wealth measured in terms of cumulative market capitalization of all the listed companies in the country, stood at Rs 36,25,000 crore, as seen at the end of the last trading session on April 24, marking an increase of about Rs 10,00,000 crore since March 9, when the total investor wealth had dipped to just above Rs 26,00,000 crore.
The benchmark Sensex has also gained more than 3,000 points since then and closed at 11,329.05 points in the last trading session.
However, the index is still about 10,000 points below its record high level of 21,206.77 points scaled on January 10, 2008. At that time, the total investor wealth had soared to a high of nearly Rs 72,00,000 crore.
Incidentally, the recovery of Rs 10,00,000 crore since March 9 has been mostly led by the top large-caps in the country, with India's 25 most valued firms together accounting for nearly half of the total recovery.
While some analysts have cautioned that it could be a short-term rally and profit-booking at higher levels might again bring in a sharp downtrend, others have asserted that it could be the beginning of a long-running bullish phase.
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