The stock market’s recent performance has left investors reeling, with wealth worth ₹9.65 lakh crore wiped out over just four days. The BSE Sensex tumbled 2,915 points—or 3.54%—during this period, with Thursday’s 964-point plunge (1.20%) taking the index to 79,218.05. Meanwhile, the market capitalization of BSE-listed firms dropped sharply to ₹4,49,76,402.63 crore, adding to the gloom. IT stocks bore the brunt, with the BSE Focused IT index tanking 1.20%. In contrast, defensive plays like Sun Pharma, Hindustan Unilever, and Power Grid provided some relief, emerging as rare gainers in the chaos. Midcap and small-cap indices weren’t spared either, declining 0.30% and 0.28%, respectively. Foreign Institutional Investors (FIIs) offloaded Indian equities worth ₹1,316.81 crore on Wednesday, further pressuring domestic markets.The sell-off, triggered by negative global cues, was exacerbated by the US Fed’s hawkish commentary, which dampened hopes for rate cuts in 2024. Broad-based selling followed the Fed’s hawkish stance, fueling concerns over tightening liquidity and economic uncertainties.