look news india
The results of the Lok Sabha elections are out. No party got a majority. Its effect was seen on the stock market during Tuesday's trading session. Investors have lost crores of rupees amid the biggest fall in the market in 4 years. There has been a loss of 30 lakh crores. There was a huge fall in PSU and banking shares. Shares of Reliance Industries also fell below Rs 3000. Shares of Adani Group fell by 20 percent. This has reduced the wealth of Ambani-Adani and investors have also suffered losses.
After the election results, Mukesh Ambani lost $ 8.99 billion (Rs 75079 crores) in a single day, while Adani lost $ 24.9 billion (about Rs 207941 crores). A day earlier, the market, excited by the exit poll results, saw a jump of 2500 points. With this increase, the Adani Group made a profit of $ 11 billion on Monday. Due to the rise in the market, Gautam Adani's status also increased and he reached the 11th position in the list of billionaires around the world.
Impact on Adani's wealth and position
But the huge fall in the market on Tuesday affected not only Adani's wealth but also his position. Gautam Adani has slipped from 11th to 15th position in the Bloomberg Billionaires Index's list of billionaires. His wealth has fallen to $97.5 billion. Ambani has benefited from Adani's fall and he has moved from 12th to 11th position in the list of billionaires. However, his wealth has also declined.
Adani Group shares fell
The decline in Adani's wealth and status is due to the massive drop in the shares of his companies. On Tuesday, Adani Green Energy fell 20 per cent while Adani Power fell 17.55 per cent. Similarly, Adani Enterprises fell 19.07 per cent, Adani Port fell 21.40 per cent and Adani Total Gas fell 18.53 per cent. Adani Wilmar's shares fell the least by 10 per cent. Due to all these declines in the shares of Adani Group, Adani also suffered a loss of $ 24.9 billion in the shares of Adani Energy Solutions, ACC, NDTV and Ambuja Cement.
Ambani's condition improved, Adani lost his crown!
Ambani may have lost his wealth amid the stock market tsunami. But his status has increased compared to before. On Monday, he was at number 12 in the rise, but now due to Tuesday's decline, Ambani has jumped one place to number 11. Shares of Ambani's company Reliance Industries fell 7.53% to Rs. 2793.60 and closed at Rs. On the other hand, Jio Financial Services fell 6.54% to Rs. 332.80. He has once again snatched the crown of Asia's richest man from Adani.
