Indian investors richer by Rs 10-tn in a year of Lehman fall | business | Hindustan Times
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Indian investors richer by Rs 10-tn in a year of Lehman fall

The world is yet to recover fully from the worst financial crisis of the century, but Indian stock investors have become richer by Rs 10,00,000 crore in the one year since the fall of investment banking giant Lehman Brothers, the first major casualty of the crisis.

business Updated: Sep 14, 2009 02:36 IST

The world is yet to recover fully from the worst financial crisis of the century, but Indian stock investors have become richer by Rs 10,00,000 crore in the one year since the fall of investment banking giant Lehman Brothers, the first major casualty of the crisis.

In contrast, the counterparts in the US are still reeling under heavy losses as their cumulative stock market wealth is still about $ 2 trillion dollars (about Rs 100,00,000 crore) below the level seen before Lehman Brothers' collapse.

The loss figure for US stock investors is 10 times that of the gain for the Indians during the same time period.

With a debt of over $ 600 billion, Lehman became the worlds biggest ever bankruptcy on September 15, 2008 and the economists see its failure across the world as a seminal event that intensified the global financial crisis.

The investors' wealth in Indian stock market, measured in terms of total market capitalisation of all listed companies in the country, currently stands at about Rs 54,50,000 crore, up from nearly Rs 44,50,000 crore on September 15, 2008 - one of the worst days in the world economic history as it saw over-a-century old institution going belly up.

In comparison, investors' wealth in the US is currently estimated at about 13 trillion dollars, against about 15 trillion on September 15 when the markets had recorded a loss of about $ one trillion dollars in a single day.