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The country's richest men in the 'wrapped' of the downgrade of the stock market

Tuesday - October 9, 2018 12:22 pm , Category : WTN SPECIAL
Ambani and Adani get 'jerk' due to declining stock market
Ambani and Adani get 'jerk' due to declining stock market

Stock market gives shock to the rich, net worth declines 

OCT 09 (WTN) - With the continuing drop in the stock market for many days, big businessmen have been sweating and they have lost thousands of crores. In the market declining, according to Forbes, Mukesh Ambani, Kumar Mangalam Birla and Gautam Adani, among the 10 richest people in India, have suffered heavy losses and their net worth has been decreased.

According to information received from the media, the market value of Kumar Mangalam Birla's 8 group companies has declined by about 60 thousand crores. The condition is that their shares of 6 companies have fallen to around 70 percent this year. For your information let you know that in January this year Birla's property was about $ 9.38 billion, which has now come down to just $ 5.91 billion. This means that he has lost about 23.3 thousand crores during this period.

Now tell you about Gautam Adani, this year, Gautam Adani has so far lost about 28 thousand crore rupees ($ 3.8 billion). According to the information, in January this year, Adani's property was about $ 11 billion, which has now dropped to just $ 6.57 billion. Looking at the market cap of his 5 companies Adani Enterprises, Adani Port and SEZ, Adani Power and Adani Transmission, there has been a fall of about Rs 40,494 crore.

Now tell you about the India’s richest person Mukesh Ambani. Mukesh Ambani's net worth on August 28, 2018, was about 3.7 lakh crore rupees ($ 50.7 billion). According to information received from the media, the net worth of Mukesh Ambani is now just Rs 2.9 lakh crore ie that is $ 39.5 billion. Clearly, in the last two months, Mukesh Ambani has lost a loss of about Rs. 82 thousand crores.

For your information let you know that on October 5, a big drop in the stock market was noticed. The broader index of the Sensex fell by 792.17 points to 34,376.99 and the Nifty slipped by 282.80 points to close at 10,316.45 points. From the 5 October to three trading session, the Sensex fell below 2,149.15 points, resulting in a loss of millions of crores of rupees, including investors. Let us know that the situation in the stock market is bad at this time. Because of this, the market has come down almost 15 percent from all time high. Not only this, when the Sensex fell below 806 points on October 4, it was the 5th biggest decline in the last five years.

It is being said that the consequences of the assembly elections going to be held in three states, the US sanctions on Iran and the US-China Trade War can also have negative impact on the stock market, and if this happens so in this case by the end of the year, the BSE Sensex could be below 32,000 and NSE 9,000. If this happens then the wealth of the country's rich 
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