ReInvestors lost about Rs 14 lakh crore when the market adjusted from the code high. On October 19, the BSE Sensex touched an all-time high of 62,245. On the same day, the Nifty touched a new high of 18,604. Since then, the index has fallen by 8%.
Indices saw a 2% correction on Friday alone. The current collapse is due to reports that a new Kovid variety is spreading in South Africa. Only pharma stocks were held. Shares of realty, metal, bank and auto all fell.
Investor Wealth
The Sensex had a market cap of Rs 2,74,69,606.93 crore at the October 19 close. At the current rate, the value has come down to Rs 2,60,81,433.97 crore.
Crash Indicators
The BSE Metal Index lost 13.6 per cent to an all-time high. Energy fell 8.2 per cent, finance 7.37 per cent, FMCG 7.04 per cent, IT 6.68 per cent, oil and gas 6.1 per cent, auto 6.01 per cent and realty 5.74 per cent. The BSE midcap lost 5.65 per cent and the small cap 4.6 per cent.
The causes of the crash are known.
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