Indian Stock Market Slips Below Trillion-Dollar Mark, Rupee At Record

[pavan_613]

[color=#3F3F3F][font=georgia][size=4]MUMBAI: [/size][/font][/color][url="http://timesofindia.indiatimes.com/topic/Indian-Stock-Market"]Indian stock market[/url][color=#3F3F3F][font=georgia][size=4] slipped below the trillion-dollar level in terms of total valuation of all listed companies on Tuesday morning, as downward pressure continued on [/size][/font][/color][url="http://timesofindia.indiatimes.com/topic/Rupee"]rupee[/url][color=#3F3F3F][font=georgia][size=4]and share prices.[/size][/font][/color]

[color=#3F3F3F][font=georgia][size=4]Rupee touched its all-time low level of Rs 61.51 against the [/size][/font][/color][url="http://timesofindia.indiatimes.com/topic/Us-Dollar"]US dollar[/url][color=#3F3F3F][font=georgia][size=4] in early trade and the stock market also lost further ground with a fall of over one per cent in the benchmark Sensex.[/size][/font][/color]

[color=#3F3F3F][font=georgia][size=4]As a result, the total market capitalisation of all listed [/size][/font][/color][url="http://timesofindia.indiatimes.com/topic/Stocks"]stocks[/url][color=#3F3F3F][font=georgia][size=4] in the country fell to nearly $992 billion (close to Rs 60.9 lakh crore), pushing India out of the elite global league of markets having a trillion-dollar valuation.[/size][/font][/color]


[color=#3F3F3F][font=georgia][size=4]The [/size][/font][/color][url="http://timesofindia.indiatimes.com/topic/Bse"]BSE[/url][color=#3F3F3F][font=georgia][size=4] benchmark [/size][/font][/color][url="http://timesofindia.indiatimes.com/topic/Sensex"]Sensex[/url][color=#3F3F3F][font=georgia][size=4] tumbled by more than 200 points in the late morning trade on fresh selling mainly in realty, metal, consumer durable, banking and captial goods sectors.[/size][/font][/color]

[color=#3F3F3F][font=georgia][size=4]Indian stock market has been holding to the trillion-dollar level by a wafer-thin margin for last few days amid continuing weakness in stocks and rupee values.[/size][/font][/color]

[color=#3F3F3F][font=georgia][size=4]At the end of Monday's trade, the total valuation of all listed stocks in India stood at Rs 61,55,448.63 crore ($ 1.011 trillion), while it had touched a low of $1.004 trillion last week.[/size][/font][/color]


[color=#3F3F3F][font=georgia][size=4]With India out of this league, only 13 [/size][/font][/color][url="http://timesofindia.indiatimes.com/topic/Stock-Markets"]stock markets[/url][color=#3F3F3F][font=georgia][size=4] across the world currently enjoy a trillion-dollar status, led by the US (an estimated $20 trillion).[/size][/font][/color]

[color=#3F3F3F][font=georgia][size=4]Other members of this elite club are - UK, Japan, China, Canada, Hong Kong, Germany, France, Switzerland, Australia, South Korea, Nordic region and Brazil.[/size][/font][/color]

[color=#3F3F3F][font=georgia][size=4]While markets like Russia, Spain and South [/size][/font][/color][url="http://timesofindia.indiatimes.com/topic/Africa"]Africa[/url][color=#3F3F3F][font=georgia][size=4] have moved out of this club after enjoying a trillion-dollar status in the past, at least three more markets -- Brazil, South Korea and Nordic region markets -- are maintaining this level with small margins.[/size][/font][/color]

[color=#3F3F3F][font=georgia][size=4]India had first entered the trillion-dollar club in June 2007, but moved out in September 2008, amid a global slowdown. It again got back into this elite league in May 2009 and had largely remained there since then, except for some brief periods.[/size][/font][/color]

[color=#3F3F3F][font=georgia][size=4]Rather than [/size][/font][/color][url="http://timesofindia.indiatimes.com/topic/The-Fall-(musician)"]the fall[/url][color=#3F3F3F][font=georgia][size=4] in share values, the rupee weakness has been the greater force behind the dollar-valuation plunge in the recent months.[/size][/font][/color]

[color=#3F3F3F][font=georgia][size=4]Since the beginning of the current fiscal in April 2013, though the rupee valuation of Indian stock market has fallen by only about 4 per cent (from Rs 63.88 lakh crore to Rs 60.90 crore), but its dollar valuation has plunged by about 18 per cent (from $1,209 billion to $992 billion).[/size][/font][/color]

[color=#3F3F3F][font=georgia][size=4]Rupee has depreciated by over 12 per cent during this period.[/size][/font][/color]

[manmadudhu]

[pinky123]