In a recent LinkedIn post, Kedia reminded investors that fluctuations in portfolio value should not be confused with permanent losses. “The rise you saw was a paper profit. The fall you see today is a paper loss. Nothing is real… until you sell,” he said.
While markets entered 2026 on a weak footing, the escalation of the Iran-Israel/US conflict has further tightened the bears’ grip. The total market capitalisation of BSE-listed companies has plunged about 7%, or Rs 32.7 lakh crore, in less than a month (17 trading sessions), reflecting the broad-based sell-off triggered by global uncertainties. At the same time, investor wealth in the top 10 companies by market capitalisation has eroded by nearly Rs 7 lakh crore, underscoring the depth of the correction.
The market capitalisation of BSE-listed companies stood at Rs 430.53 lakh crore as of March 26, down from Rs 463.35 lakh crore on February 27, 2026. Meanwhile, the combined market capitalisation of the top 10 Sensex companies declined to Rs 89.72 lakh crore, compared with Rs 96.71 lakh crore in the same period.
Sensex has fallen 7.2% so far this month, after rising 2% in February. It was down 0.7% in January.
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Distinguishing between market-linked and personal wealth, he noted, “Your demat statement belongs to the market. Your bank statement belongs to you,” underlining that volatility is an inherent part of equity investing.
Kedia acknowledged that the current phase may feel like a crisis, but described it as a learning curve for investors. “Markets don’t build wealth without first building your temperament,” he said, adding that even seasoned investors experience anxiety during downturns.Reflecting on his own journey, Kedia said he has navigated multiple market cycles, each testing his patience. “Every time the cycle turned, every new bull phase took my portfolio to new highs,” he said, reinforcing the importance of staying invested through volatility.
He cautioned against emotional decision-making, noting that worry and panic do little to improve returns and can instead affect personal well-being. “Worrying won’t raise prices. It will only disturb your peace, your mood, and even your family life,” he said.
According to Kedia, such phases are not meant to break investors but to strengthen them. He advised market participants to develop emotional resilience and self-awareness. “You have to win over your mind. Events create uncertainty, but fear is shaped within,” he said.
Reiterating a core investing principle, Kedia concluded that long-term wealth creation depends less on market timing and more on investor behaviour. “In the end, it’s not the market… it’s your temperament that creates wealth,” he said.
Kedia’s portfolio is among the most followed among marquee investors in India. He began investing in the stock market at the age of 19 and started Kedia Securities in 1992, when he was 33.
As per the latest corporate shareholdings compiled by Trendlyne, Kedia publicly holds 17 stocks with a net worth of over Rs 990 crore. His investments include Patel Engineering, Advait Energy, Global Vectra, Neuland Laboratories, Siyaram Silk Mills and Vaibhav Global.
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