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Monday, 12 December 2011 00:00 - - {{hitsCtrl.values.hits}}
NEW DELHI: A sharp downslide in the stock market has made the investors poorer by more than $ 500 billion since the beginning of 2011, and the experts fear that losses could mount further in the coming months.
Measured in terms of cumulative value of all listed shares in the country, the total investor wealth in the Indian stock market has dropped from close to Rs 73 lakh crore (about $ 1.69 trillion) at the start of 2011 to close to Rs 56.9 lakh crore (about $ 1.1 trillion) currently.
Only three weeks of trade is left this year and the continuing spate of bad news -- both regarding the domestic economy and the overseas cues -- do not spell anything good for the markets in the coming months, some experts fear.
From a 52-week high of 20,664.8 points on January 3, the first day of trading in 2011, the market benchmark Sensex has fallen to 16,213.46 points now and some analysts foresee the index falling to as low as 14,500 level in next six months.
This would mean a fall of more than 12 months and could erase more than $ 100 billion (more than Rs six lakh crore) further from the investors' wealth.
Global financial services major Bank of America-Merrill Lynch has named India as the worst-performing market this year with a fall of about one-third in the US dollar terms.
"... We continue to expect a tough market over the next six months and expect a correction of the Sensex to 14,500 as growth concerns take center-stage," it added.
