Bombay Stock Exchange. (PTI)

Patna, Aug. 8: The state investors have lost a lot because of the slump in the stock market. But they have not turned panicky. They have become cautious instead.

Market analysts, however, put the figure of loss in two days in the state at around Rs 100 crore owing to global decline on the bourses on account of fears that the US economy could enter a fresh phase of recession.

The exact quantum of loss could not be ascertained owing to the fact that there is no single platform where people (investors) are engaged in trading activities.

Former president of Magadh Stock Exchange, which is closed since 1998, Suresh Rungta, said: “There is no mechanism or software available to provide state-wise figures about the exact number of investors trading from a particular state or region. It was possible when MSE was working, as it was the only platform from where one traded.”

He said: “Now, people (investors) buy or sell through various brokerage firms. They also carry out their business online, which makes it impossible to ascertain the exact loss the state has suffered in the two days of trade.”

Rungta speculated the state’s loss was around Rs 50 crore in two days.

The fears arose about US after Standard and Poor reduced the country’s credit rating from AAA to AA+. The price rise and increasing interest rates also contributed to the decline at the stock markets to some extent.

Rungta, the proprietor of Rungta Investment Services, said: “Decline at the bourses have had its impact on India too but it would not remain for long. The reason is that export-oriented sectors like IT, pharma, readymade garments, leather goods and jewellery among others are badly affected, as products from these sectors are exported to the US and Europe. Foreign institutional investors from US have pulled out their money from the Indian stock market.”

Bimal Agrawal, the master franchisee of Mumbai-based brokerage firm Angel Broking Ltd, said it was difficult to quantify the loss the investors of Bihar have suffered. “The loss could be anything around and above Rs 100 crore in two days of trading in the state.”

Pankaj Ranjan, a financial adviser in Muzaffarpur, said: “It is an opportune time to invest, particularly in mutual funds through systematic investment plan mode. People should invest in small amounts but regularly.”