The market capitalisation of the Bombay Stock Exchange eroded by a whopping Rs 24,613 crore (Rs 246.13 billion) since the Union Budget announcement.
In the same period, the benchmark Sensex has lost 3.99 per cent or nearly 131 points.
The aggregate market capitalisation has slumped to Rs 5,66,082 crore (Rs 5,660.82 billion) as on March 7 from Rs 5,90,695 crore (Rs 5,906.95 billion) as on February 28, a decline of Rs 24,613 crore (Rs 246.13 billion) or 4.17 per cent.
Out of the 112 industry classifications of Business Standard, nearly 97 reported a slip in capitalisation to the tune of Rs 24,658 crore (Rs 246.58 billion), while only 5 sectors has seen their valuations up -- that too, by a modest Rs 45 crore (Rs 450 million).
This results in a net decline of Rs 24,613 crore in the total market capitalisation.
Information technology, refineries, banks, fast moving consumer goods, steel, two- and three-wheelers, pharmaceuticals, entertainment and cement firms were the worst hit sectors during the period.
The market capitalisation of information technology stocks declined by 7.1 per cent or by Rs 6,717 crore (Rs 67.17 billion) to Rs 87,325 crore (Rs 873.25 billion) from Rs 94,043 crore (Rs 940.43 billion).
In the case of the refineries sector, the market capitalisation fell by 2.9 per cent or by Rs 2,721 crore (Rs 27.21 billion) to Rs 88,946 crore (Rs 889.46 billion) from Rs 91,667 crore (Rs 916.67 billion).
While banks' valuations decreased by Rs 1,672 crore (Rs 16.72 billion) to Rs 52,722 crore (Rs 527.22 billion) from Rs 54,394 crore (Rs 543.94 billion), the capitalisation of fast-moving consumer goods companies wound down by Rs 1,633 crore (Rs 16.33 billion) to Rs 67,886 crore (Rs 678.86 billion) from Rs 69,519 crore (Rs 695.19 billion).
Among other losers include steel -- composite and alloy (Rs 1,087 crore -- Rs 10.87 billion), two- and three-wheelers (Rs 764 crore -- Rs 7.64 billion), entertainment (Rs 683 crore -- Rs 6.83 billion), cement (Rs 622 crore -- Rs 6.22 billion), and fertilisers (Rs 577 crore -- Rs 5.77 billion).
During the period, information technology major Wipro had the highest market cap erosion. Its market cap declined by Rs 2,333 crore (Rs 23.33 billion) to Rs 31,801 crore (Rs 318.01 billion) from Rs 34,134 crore (Rs 341.34 billion).
With a Rs 1,808 crore (Rs 18.08 billion) drop in market capitalisation, petrochemicals giant Reliance Industries stood in the second place.
Its market cap dropped to Rs 39,238 crore (Rs 392.38 billion) from Rs 41,046 crore (Rs 410.46 billion).
Another information technology space stalwart, Infosys Technologies, has seen its valuations buckle by Rs 1,734 crore (Rs 17.34 billion) to Rs 26,636 crore (Rs 266.36 billion) from 28,370 crore (Rs 283.70 billion), followed by ONGC (a drop in market capitalisation of Rs 1,255 crore -- Rs 12.55 billion), Hindustan Lever Ltd (a decline of Rs 1,090 crore -- Rs 10.90 billion), Hindustan Petroleum Corporation Ltd (a fall of Rs 710 crore -- Rs 7.10 billion) and Satyam Computer (a slide of Rs 626 crore -- Rs 6.26 billion).
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