Market Crash Hits India's Wealthiest

In a dramatic turn of events, India's stock market witnessed a significant downturn, leading to a collective loss of over $10 billion among the country's top four billionaires. This unprecedented event has sent shockwaves through the financial world.

Who Were Affected?

Mukesh Ambani, India's wealthiest person, saw his fortune diminish by $3.6 billion, bringing his net worth down to $87.7 billion. Gautam Adani, the second richest, wasn't spared either, with a $3 billion loss, reducing his wealth to $57.3 billion.

The Jindal family and Shiv Nadar also faced substantial losses, with their net worth decreasing by $2.2 billion and $1.5 billion, respectively.

Global Market Weakness

The crash reflects a global market downturn, exacerbated by trade conflicts and fears of a US recession. Sector indices like Nifty Metal and Nifty IT saw declines of 8% and over 7%, respectively, signaling a rough day for investors worldwide.

Expert Advice

"Globally markets are going through heightened volatility caused by extreme uncertainty," noted Dr. V K Vijayakumar, advising a cautious approach in these turbulent times.