It came as a major financial setback for Mukesh Amani after his company lost Rs 1320000000000 in just four days. The company recorded a sharp plunge in the stock price of Reliance Industries Limited.
The Indian stock market noted a turmoil this week as the Sensex slipped to 703.95 points, or 0.85 per cent, to settle at 81,793.16, while the Nifty fell by 200.25 points or 0.79 per cent, closing at 25,049.85 on Friday.
Market experts observed that tension in the Middle East, rising oil prices, and opening of China’s economy with its easing rate policies, has diverted foreign institutional investors towards Chinese markets.
Over the past five trading sessions, Indian stock markets have experienced a major drop in investor wealth, with approximately Rs 13 lakh crore being wiped out, according to Bombay Stock Exchange (BSE) data.
