Guess who robbed investors of Rs 17,07,099 crore in 2011

The only consolation one can take from the market’s performance in 2011 is that it wasn’t the worst year ever. 2008 was the worst, when the BSe Sensex came down 52.54 percent. In 2011, the Sensex fell by 25.05 percent.

Investors have collectively lost Rs 17,07,099 crore in terms of paper wealth.

 The fact that it was an extremely bearish year can be judged from the fact that in nine of the 12 months, market indices closed lower than their opening price.

Global market woes, government policy paralysis, loss of business confidence, and rising interest rates have all contributed in various proportions to the fall in the market.

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 Apart from consumer goods companies, almost every listed company’s share price has taken a hit. This is reflected in the price performance of various sectors. Apart from fast-moving consumer goods (FMCG - the people who sell toothpaste, toiletries, etc), all other sectors have closed in the red.

The biggest fall was in the realty sector, which lost almost half its value, followed by metals and capital goods.

Another feature of 2011’s fall was that the pecking order changed the largest contributor to the Sensex. A 36 percent fall in Reliance cost it its top position in the BSE Sensex, which has now been taken over by TCS. Earlier in the year, Coal India, ONGC and Infosys have all been very close to the top position. But at the end of the year, the largest IT company in the country, TCS, was the highest contributor to the index.

 In terms of stock performance among Sensex stocks, the clear winner is Hindustan Unilever, which shot up by 30 percent during the year, touching a new all-time high level of Rs 420.25. The stock has closed the year at Rs 407.40. The worst performers during the same period were three metal companies - Sterlite, Hindalco and Tata Steel - all of whom have fallen by around 52 percent.