Business

13 lakh crores sunk in the stock market

Mumbai. On Thursday, the stock markets around the world opened and opened in the midst of Russia’s attack on Ukraine, all the markets started falling. The Bombay Stock Exchange, BSE witnessed the fourth biggest fall ever and more than 13 lakh crores of investors were drowned in the stock market. Mukesh Ambani alone suffered a loss of 21 thousand crores. One lakh rupees of America’s Elon Musk, one of the world’s richest people, drowned. Three lakh 11 thousand crore rupees of the world’s richest 20 people drowned in the stock market.

However, the 30-share sensitive index of the Bombay Stock Exchange, BSE, fell 27 hundred points, or 4.72 per cent, to 54,529. At the same time, Nifty also fell 815 points or 4.78 percent to reach 16,247. This is the biggest drop in the last two years. After Thursday’s fall, the market cap of BSE-listed companies declined to Rs 242.28 lakh crore from Rs 255.68 lakh crore. Due to this fall, Rs 13.40 lakh crore of investors were sunk.

Significantly, Russia attacked Ukraine on Thursday morning. This also caused turmoil in the stock market of the whole world. Within just four-five hours of the start of the war, the wealth of the world’s 20 richest people fell by more than Rs 3.11 lakh crore. Talking about India, top 10 businessmen including Mukesh Ambani, Gautam Adani, Uday Kotak, Dilip Sanghvi also suffered a loss of more than 60 thousand crores. The net worth of Tesla’s Elon Musk, the world’s richest person, declined by Rs 1 lakh crore.

The stock markets of almost green major countries including the United States, Britain, Japan, India and China fell as soon as the news of the war broke out. This caused huge losses to the 20 richest people in the world. Tesla’s Elon Musk tops the list of losers. The wealth of Facebook’s Mark Zuckerberg, Microsoft’s Bill Gates and well-known investor Warren Buffet has also declined.

Narendra Hirani

Senior Business Journalist at youthistaan.com Follow him on twitter @NarendraHirani_

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