Investors' wealth plunges over `8 lakh cr in 4 days

Investors' wealth eroded by more than Rs 8 lakh crore in four consecutive sessions of stock market loss. Recording its fourth straight session of loss on Wednesday, the Sensex tumbled 937.66 points or 1.94 per cent to close at 47,409.93. In the four straight sessions, the benchmark has fallen by 2,382.19 points or 4.78 per cent.

Tracking the muted sentiment, the market capitalisation of BSE-listed firms declined by Rs 8,07,025.09 crore to Rs 1,89,63,547.48 crore in these four days.

"Volatility is normally higher on the last two days of monthly expiry but this time the fall with higher volatility show cautiousness amongst market participants before the Budget event. Earnings are coming out better-than-expected but profit-booking is seen in most companies that have declared results so far barring a few cases," according to Rusmik Oza, Executive Vice President and Head of Fundamental Research at Kotak Securities.