India slips out of trillion-dollar club

Aug 07, 2013 |

India slipped out of the elite global league of stockmarkets with a trillion-dollar valuation Tuesday, as the total value of all listed companies fell to $989 billion amid huge selling pressure on bourses.

At the end of Tuesday’s trade, the total market capitalisation of listed companies in India fell to `60,18,503.88 crores, as stocks witnessed a massive selloff, dragging the Sensex down by 449 points (2%) to below 19,000 after a gap of over five weeks. The rupee also touched its all-time low of 61.80 to the US dollar, but recovered later to close marginally higher, near 60.81.

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