[Mumbai]Indian Rupee And Stock Market Crashes
Sensex, Nifty tumble over 3 % as global equity rout deepens.Stock Market Wealth Crashes Below Rs 100-Trillion Mark
Whereas Indian Rupee Crashes to 66.49 Against Dollar, Plunges by 66 paise But RBI Governor Rajan says rupee has strengthened against yen+euro.He Also Assured That RBI has Resources to deal with Rupee Volatility.
The total investor wealth crashed below the Rs 100 lakh crore mark today while wiping out more than Rs two lakh crore worth valuation within minutes after the day’s trading began.
Listed stocks, fell to Rs 99.15 lakh crore this morning from Rs 102.33 lakh crore at the end of last trading session on Friday.
The investor wealth stood below Rs 100 lakh crore last on June 18, while this milestone was first achieved in November 2014.
The BSE benchmark Sensex crashed by over 1,000 points in intra-day trade amid widespread selling pressure.
When the total market valuation of all listed firms at the BSE first hit Rs 100 trillion on November 28, 2014, it marked ten-times rise in little over a decade.
BSE is among the world’s ten largest exchanges in terms of market value, while it is the largest globally for number of firms listed on its platform. It has over 4,000 actively traded companies and nearly 2.7 crore investors trade on it.
The total market cap is still nearly double the level of about Rs 50 lakh crore in 2009, while it is still about ten-times of the Rs 10 lakh crore level scaled in 2003.