Corona crypt drowns Rs 31 lakh crore in 7 days

-

New Delhi, 29 February 2020 Saturday

Following the coronavirus health sector, the worldwide equity market has also started to wrap up. Corona's hoof has seen massive sales in almost all the stock markets around the world, including India.

Billionaires from all over the world are facing huge losses due to heavy selling in the market. According to a Bloomberg report, the wealth of the top 500 billionaires in the whole world has been declining by about $ 444 billion (about Rs 31.52 lakh crore) in seven days.

Analysts believe that this is the first time since the financial crisis in 2008, in which the stock market has fallen downside down. According to one estimate, around 6 lakh crore sank in the worldwide market during the 2008 financial crisis. About $ 6 million was drowned in stock markets around the world.

Top 3 billionaires sink $ 30 billion

During the first two months of this year, the total wealth of the top 500 richest people in the world increased by $ 78 billion (about $ 5.53 million) during January and February.

But it is far from safeguarding these earnings in the wake of heavy selling in the market, with over $ 366 billion of these billionaires being sunk in the last seven days.

In terms of the top 3 billionaires in the world, Amazon's Jeff Bezos, Microsoft's Bill Gates and LVMS's Bernard Earnholt alone have lost $ 30 billion (about $ 2.21 million).

What is the status of Indian billionaires?

Talking about the Indian stock market, the wealth of promoters of IT sector companies has dropped drastically. Promoters of HCL, Wipro and Infosys lost $ 3.2 billion (about Rs 22,720 thousand crore) in just two days. If you also add TCS to this list, the amount will rise to $ 9 billion.

The biggest loss in the Indian market is the HCL's Shiv Nadar and Wipro's Azim Premji's biggest loss. The total assets of the duo have declined by $ 1.6 billion and $ 1.4 billion respectively. Besides, the list of Indian billionaires includes Kumar Mangalam Birla, Uday Kotak, whose wealth has also declined.

Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro...
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja...
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se...
Read more