Investors incur huge loss at stock market

Surajit Khaund
GUWAHATI, Feb 17 – The investors in the State have suffered a huge loss in the stock market. The quantum of loss of the investors is estimated at nearly Rs 100 crore yesterday. The loss was apparently due to the failure on the part of the Government to provide sops to the key industries.

Sudarshan (name changed), a young investor in the State incurred a loss of nearly Rs 12 lakh in the stock market yesterday. The investor, who has been associated with the stock market for the last couple of years, is now in a quandary for his future investment.

“This is a huge loss for me and there is no sign of recovery in the market considering the ensuing general election,” Sudarshan told this correspondent. According to him, he is not alone, several investors had to bear the brunt of the global recession in the stock market.

According to available information, the total loss of the stock market in the country was around Rs 1 lakh crore. And, the key companies incurred a loss over Rs 90,000 crore yesterday.

Commenting on the prevailing situation in the stock market, RS Joshi, chairman of the Federation of Industry and Commerce of North Eastern Region (FINER), observed that the uncertainty in the stock market would continue for more than one year.

“Global economic recession is so deep that there is no sign of recovery in the stock market. Moreover, the Government had failed to provide sops to the industrial sector in the Interim Budget yesterday that had taken toll on the market,” he said, adding that investors should be very selective while investing money in the equity market.

Providing more feedback on the market, Joshi who was the former director in the Gauhati Stock Exchange (GSE), informed that despite the bailout packages announced by the different countries, the overall market across the globe is still in the red that has become a matter of concern.

“ In our State the total loss in the stock market will be around Rs 90 to Rs 100 crore yesterday. So keeping that in mind, small investors should be very careful,” he advised.

JK Jain, Director of the GSE, while providing information in this regard, said that the State investors had to suffer a huge loss yesterday. “Industries were eagerly waiting for some bold steps from the Government in the Budget, but Pranab Mukherjee dashed the hopes of the industries,” he added. He also observed that the prevailing situation is likely to continue for a long time.

According to available information, the Gauhati Stock Exchange (GSE) has so far over 10,000 investors with an investment of nearly Rs 900 crore per month. The figure of course varies time to time depending on the behaviour of the market. The concept of investments is growing among the people for the past two years in view of awareness programmes initiated by the different companies. source: assam tribune