Mukesh Ambani's one decision and your 23700 crore rupees in 3 days, know how

Shares of Jio Financial have hit a lower circuit of 5 per cent for the third consecutive day. Due to which the market cap of the company has decreased by Rs 23700 crore. By the way, RIL shares are showing a slight rise.

Due to continuous selling by institutional investors, shares of Jio Financial Services appeared on the lower circuit of 5 per cent for the third consecutive day on Wednesday. The company's shares are trading at Rs 224.65 on the National Stock Exchange. The special thing is that due to the fall in the shares of Jio Financial, the market value of the company has decreased by more than Rs 23,700 crore.

postponed for three

On Tuesday, index provider Asia Index Pvt Ltd deferred by three days the decision to delist the stock from all major exchanges, including Sensex and BSE, as the stock hit the lower circuit for two consecutive days. Jio Financial is currently a part of major indices of BSE and NSE including Sensex and Nifty50.

To give an opportunity to passive and active funds holding RIL stock to trade in separate units, Jio Financial was added to the major indices on July 20 for a temporary period. At that time the stable price of the company's stock was Rs 261.8, which was achieved from a special pre-open session conducted by the exchanges on RIL stock.

FTSE and MSCI support not found

Jio Financial will exit from all S&P BSE exchanges on August 29, provided it does not hit the lower circuit within a period of 3 days. If the stock again hits the lower circuit on Thursday, the date of delisting will again be postponed by three days. While selling continues in the domestic market, inclusion of the stock in global exchanges like FTSE and MSCI did not provide any support.

This is because funds holding RIL stock already own Jio Financial shares, hence, there will be no fresh adjustment in their portfolio. Shares of Reliance Industries were trading at Rs 2,526.90 on the NSE, up 0.3 per cent from its previous close.