FY20 has been the worst financial year in terms of Nifty performance after FY09. In FY09, Nifty fell 36 percent while in FY20, it has fallen around 29 percent. Hopefully, we can pull back a couple of percentage points in today’s trading session as the market trades higher.
In the last year, nearly Rs 41 lakh crore was eroded in terms of total BSE-listed companies' market capitalization. Maximum amount of selling was witnessed during the Q4 -- a fall of around 32 percent for the quarter.
Looking at the losses in the broader markets as well as in the Nifty Bank - big cuts is what we have seen. There has been selling across the board; IndusInd Bank has lost more than 75 percent of its market capitalization and the list goes on.
There are more than 10 stocks that lost more than 50 percent of their market cap including Axis Bank, JSW Steel, Hindalco, GAIL. The heavyweight stocks -- HDFC twins, Reliance Industries, L&T and ITC -- are down between 20 percent and 40 percent.
However, there have been few gainers. Nestle has made its way into the Nifty and that is gaining nearly around 40 percent. Bharti Airtel is up 40 percent. A few consumer as well as pharma names have gained in the gloomy market. Granules India has corrected from its top but has gained close to 26 percent and Berger Paint is standing with a gain of around 40 percent.
But it has not been a great financial year as there has been more red than green.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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