With Rs 106 trillion of market cap, the pack contributes nearly 94% to India’s market capitalisation.
The erosion in market value of the BSE 500 constituents from their peak levels has exceeded that during the global financial crisis in 2008.
The market capitalisation of the BSE 500 companies fell by Rs 44 lakh crore since the outbreak of the Covid-19 in mid-January. Nearly 58% of the BSE 500 stocks fell more than 30% from their peaks. With Rs 106 trillion of market cap, the pack contributes nearly 94% to India’s market capitalisation. At their peak, the cumulative market capitalisation of the pack was Rs 150 trillion.
Reliance Industries, HDFC, ICICI Bank, Infosys, SBI, ITC, Axis Bank, and L&T are prominent index heavyweights who have borne the brunt of the sell-off. Sectorally, banking (erosion of Rs 8.24 lakh crore), oil & gas (Rs 5.71 lakh crore) and information technology (Rs 4.61 lakh crore) are the major losers.
Around 15% of the BSE 500 stocks fell over 60% during this period. This includes the likes of IndusInd Bank, Future Retail, Tata Motors, Prestige Estate, and Corporation Bank.
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