India’s benchmark Nifty 50 Index fell nearly 4 percent between in the last one month as the market value of its constituent stocks fell by more than Rs 3 lakh crore.
More than 80 percent of the 50 stocks on the index ended on the losing side between Nov 3. and Dec 6.
Bharti Airtel Ltd. was the top loser, followed by commodity-linked stocks such as Vedanta Ltd. and Oil & Natural Gas Corporation Ltd. These three companies lost more than Rs 20,000 crore each in market capitalisation. Ten companies lost anywhere between Rs 10,000 and Rs 20,000 crore each, while 29 lost a little than Rs 10,000 crore.
Meanwhile, Infosys Ltd. remained the major gainer during this period, adding more than Rs 10,000 crore to its market capitalisation followed by Maruti Suzuki India Ltd. Four out of the five Nifty information technology companies have seen an addition to their market capitalisation during the period.
The Nifty, however, gained market capitalisation to the tune of approximately Rs 50,000 crore today.