The years- old stock market adage, alt39 sell in May and go awayalt39, seems to be holding true for the third year in a row, as Dalal Street has lost close to Rs 4,00,000 crore of wealth and the benchmark Sensex has fallen
by over 1,100 points so far this month.
Since the beginning of May 2012, the stock market wealth, measured in terms of total value of all listed companies, has fallen by about Rs 4 lakh crore ( close to USD 70 billion).
The Sensex has falled by 1,100.99 points so far this month and is currrently trading at 16,217.82 points.
During May 2011, stock market wealth had declined by about Rs 1.8 lakh crore ( about USD 60 billion), while the loss was about Rs two lakh crore ( USD 80 billion) in May 2010. However, markets had gained smartly by about Rs 13 lakh crore ( USD 285 billion) in May 2009, after losing close to $ 160 billion in May 2008.