Monday, August 19, 2013

Indian Stock Market witnessed biggest fall in 4 years

The Indian stock market moved out of the trillion-dollar league on 16-Aug-2013 as equities crashed, pulling down the total valuation of all listed companies to $985 billion on fresh concerns about the US stimulus withdrawal, and the rupee plunging to a historic record low of 62.

Market capitalisation of all the listed companies stood at Rs. 60,73,881.22 crore, as stocks witnessed bloodbath that dragged down the BSE 30-stock benchmark, Sensex, by 769.41 points to 18,598.18 — its biggest fall in 4 years.

Meanwhile, gold prices soared to Rs.31,010 per 10 grams, a level last witnessed in February this year, following strong demand from stockists ahead of the festive season, even as the RBI banned inward shipments of gold coins, medallions and dores without licence.

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