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By PTI

NEW DELHI: A four-day decline in stocks has wiped out over Rs 13.32 lakh crore from the market capitalisation of BSE-listed firms.

Sliding for the fourth straight session, the BSE sensex shed 276.46 points or 0.51 per cent to close at 54,088.39 on Wednesday.

In four days, the benchmark has lost 1,613.84 points or 2.89 per cent.

Tracking the weak trend in equities, the market capitalisation of BSE-listed firms tanked Rs 13,32,898.99 crore in four sessions to stand at Rs 2,46,31,990.38 crore.

"Lack of fresh positive cues is forcing investors to dump equities and switch to safer havens like gold, etc. Although the larger texture of the market is still on the bearish side, we could see a sharp pullback rally in the near future due to markets being in an oversold territory," said Shrikant Chouhan, head of equity research (Retail), Kotak Securities Ltd.

Larsen & Toubro, Bajaj Finserv, Bajaj Finance, PowerGrid, NTPC, Infosys and Maruti were among the prominent laggards in the Sensex pack on Wednesday.

In contrast, Axis Bank, IndusInd Bank, HDFC, Kotak Mahindra Bank, HDFC Bank and Bharti Airtel were among the gainers.

Meanwhile, international oil benchmark Brent crude jumped 3.05 per cent to $105.7 per barrel.

Foreign institutional investors offloaded shares worth a net Rs 3,960.59 crore on Tuesday, according to stock exchange data.

Vinod Nair, Head of Research at Geojit Financial Services, said, "Investors continue to remain wary despite global markets trading in green due to drop in domestic investors confidence and FII selling.

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Dive Deeper:
Investor wealth tumbles over Rs 11.22 lakh crore in 3 days
NEW DELHI: Equity investors have became poorer by over Rs 11.22 lakh crore in three days following a sell-off in…
Sensex crashes 1,158 points; Nifty ends at 15,808: Top reasons behind today's fall
NEW DELHI: Equity indices plunged for the 5th straight session on Thursday with the benchmark BSE sensex crashing over 1,000…
Market mayhem wipes out ₹7.73 lakh cr of investor wealth in two days
The two-day slump in equities eroded ₹7,73,582.29 crore from the market capitalisation of BSE-listed companies, which now stands at ₹2,51,91,307.08…
Investors poorer by nearly ₹18.75 lakh cr in 5 trading sessions. What's next
BSE market cap stands at ₹2,40,90,199.39 crore after today's closing price of Sensex. This has declined by ₹18,74,689.98 crore from…
One subscription that gives you access to news from hundreds of sites
Sensex falls again, extends losses to 4,300 points so far this month
Stock market: Nifty 50 ended the week sharply negative and is now trading around a strong support level of 15,700:…
Rupee recovers 12 paise to close at 77.32 against US dollar
MUMBAI: Snapping its two-day losing streak, the rupee appreciated 12 paise to end at 77.32 (provisional) against the US dollar…
Get all your news in one place