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INDIA TO SEE 1,000 UHNWIs JOINING MILLIONAIRE CLUB ANNUALLY

India is home to 2 per cent of the world's millionaires and 5 per cent of billionaires, which is expected to see an annual addition of 1,000 new super-rich individuals every year in coming decade, says a report.
According to the latest Knight Frank Wealth Report, India houses 2 per cent of the world's millionaires (13.6 million) and 5 per cent of the world's billionaires (2,024).
Between 2015 and 2016, the country witnessed a 12 per cent increase of UHNWIs and this number is expected to grow at 150 per cent over the next decade, the report by global property consultancy that tracks the growing super-rich population in 125 cities across 89 countries said.
The number of ultra high net worth individuals (UHNWIs) in India has increased by a whopping 290 per cent during the last decade.
"India ranks 6th in terms of growth rate of UHNWIs for 2016. With the current pace, the country is expected to move up to the 3rd spot over the next decade," this year's survey noted, based on responses from almost 900 of the world's leading private bankers and wealth advisors.
In India, in terms of ultra-rich population, Mumbai leads the race with 1,340 UHNWIs, followed by Delhi (680), Kolkata (280) and Hyderabad (260).
Moreover, Mumbai was ranked 21st on the city wealth index ahead of Toronto, Washington DC and Moscow while Delhi was placed at the 35th rank ahead of Bangkok, Seattle, Jakarta.
Out of the 40 global cities, Mumbai was ranked 11 in the 'future wealth' category ahead of Chicago, Sydney, Paris, Seoul and Dubai.
"Over the last 10 years, we have seen annually 500 new UHNWIs being added in India and we expect this number to double to 1,000 every year in coming decade," Samantak Das, Chief Economist and National Director - Research, Knight Frank India, said.
Das further noted that in terms of real estate investment, the wealthy Indians have expressed their top priority in the office segment and logistics also sees a three-fold rise.
"Even though the residential market in India is reeling under pressure, 40 per cent of wealthy Indians are likely to invest in residential property in India in the next two years while 25 per cent are keen for overseas avenues," Das added.
UHNWIs for the wealth report were defined as those with USD 30 million or more in net assets, according to data provided by New World Wealth for Knight Frank Wealth Report.

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ASTRO TECHNICAL GUIDE FOR NIFTY

 for 11, April 2017
Opening Session  Subdued
Tithi ::Chaitra Bahula  Padyami
Nakshatra:Chitta
Persons born in Pushyami, Anuradha and Uttarabhadra constellations and those born in Libra and Aquarius are advised to be alert in their dealings.
Sensitive / Trend change Timings : 10.05 AM; 11.40 AM; 2.30 PM
Likely Intraday Trend...
On the basis of planetary position and aspects amongst planets, Market is expected to open  Subdued  and remain so  till about 11.20AM and could remain  better from  about 11.30 AM till about 1.30 pm and could remain subdued thereafter till  about end of the day.
Astro Technical Trading Strategy...
If Nifty Fut. Trades below  ATP/ Open level by about 9.30 AM , Short   Positions can be taken with suitable   SL, and such positions can be closed by about 11.30 AM. If Nifty Fut trades above  ATP by about 11.45 AM, Long Positions can be taken with suitable SL,and such positions can be closed by about 1.30 PM / 1.45 PM.
Technical Levels... Resistance : 9220, 9255 Sup…