Mumbai: Total market valuation of firms listed on the BSE eroded by nearly Rs 3.5 lakh crore in just five trading sessions this year as China's move to depreciate its currency led to a massive sell-off globally. The total investor wealth, measured in terms of collective value of all listed stocks, fell to Rs 96,91,131 crore, down from 100.38 lakh crore at the end of last trading session of 2015.
In the first five days of this year, investors have got poorer by Rs 3.47 lakh crore, while during the entire year of 2015 investors wealth got richer by just Rs 2 lakh crore. The benchmark Sensex today slipped below the 25,000-level by tanking about 555 points. On January 4, the Sensex had plunged by 537.55 points to crack below the 26,000-mark. In one of the worst start to a new year, the 30-share
benchmark index slumped by 1,265.71 points in just five trading sessions.
At the end of today's trading session, Sensex was quoted at 24,851.83, while the 30-share gauge ended the last trading session of the year 2015 at 26,117.54.
The fall came amid worries over slowing growth in the world's second-largest economy, China, which has roiled investors worldwide, and pressure on its currency from capital outflows.
Sentiment further got dampened after global crude prices softened to multi-year lows following China's weakening currency and rising global stock reserve.
The US benchmark crude contract slid below USD 34 a barrel, while Brent fell to USD 33.61 per barrel.
The total market valuation of all listed firms on BSE had first hit Rs 100 trillion level on November 28, 2014.
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. Over 2.9 crore investors trade on it.