oppn parties Carnage On Stock Exchanges: Investors Lose Rs 6.71 Lakh Crore In A Single Session

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Tiranga Rally Is Excellent. Breaking The Law Was Not

October 17, 2026

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News Snippets

  • Allahabad HC said that the UP Police is acting as law unto themselves as they detained a person unlawfully even before his arrest
  • Kolkata witnesses traffic snarls on the first day of the Durga Puja festival as revellers start pnadal-hopping
  • Neha Bora was subsequently released and Dipke is to appear before a magistrate today at noon
  • Delhi Police detained Cockroach Janta Party founder Abhijeet Dipke, Neha Bora of AISA, student leaders and supporters ahead of a rally in Connaught Place demanding Chief Election Commissioner Gyanesh Kumar's resignation. The protest followed the detention and jailing of two CJP leaders earlier in the week over demonstrations at Jantar Mantar
  • The Reserve Bank of India is considering further monetary tightening to counter capital outflows and increase the cost of betting against the rupee, according to bankers and analysts cited by Reuters. The measures follow recent rate increases and steps to drain liquidity as pressure on the currency and inflation concerns persist
  • India directed oil marketing companies to stop diverting sugar-based feedstocks for ethanol production in the 2026–27 supply year, according to a new tender issued on Friday. The companies have invited bids for 11 billion litres of ethanol made from alternatives including corn and broken rice, amid concerns about domestic sugar supplies and prices
  • Finance Minister Nirmala Sitharaman said India's trade imbalance with China was growing sharply and attributed the problem partly to restrictions on Indian goods and services entering the Chinese market. China subsequently said it was ready to work with India to address mutual economic and trade concerns; India's trade deficit with China reached $69 billion in the first half of FY2026–27, up 27% year-on-year
  • Indian equity benchmarks extended their recovery on Friday, with the Sensex rising 413.66 points to close at 74,729.27 and the Nifty 50 gaining 148.80 points to settle at 23,146.15. Information technology shares, including Tech Mahindra, Infosys and TCS, helped lift the indices
  • India defeated Zimbabwe by four wickets in the opening women's T20 International in Raipur, taking a 1–0 lead in the three-match series. Deepti Sharma and Niki Prasad combined in an 82-run stand after India's top order collapsed, helping the hosts chase down Zimbabwe's total of 114 for five
  • Indian wrestler Komal won bronze in the women's 59 kg category at the Under-23 World Wrestling Championships in Las Vegas, defeating Kazakhstan's Viktoriia Khusainova 7–2. Fellow Indian Amruta Pujari advanced to the women's 72 kg final after recording two pinfall victories
  • Indian shuttler Jagsher Singh Khangurra secured a bronze medal at the BWF World Junior Badminton Championships in Cairo
  • The Supreme Court of India upheld the Bombay High Court's decision quashing the 2020 write-off of ₹8,415 crore in additional tier-1 bonds issued by Yes Bank (Yes Bank). The court ruled that the bank's administrator lacked the authority to extinguish the bonds under the final reconstruction scheme, strengthening bondholders' claims
  • The Supreme Court issued notices to the Election Commission of India, Delhi Police and opposition leaders, including Rahul Gandhi and Akhilesh Yadav, in separate petitions concerning electoral-roll revision and protests held in Delhi on October 10–12. The court also directed the preservation of CCTV footage linked to allegations of police excesses
  • The Supreme Court ruled that a person converting from Hinduism to Islam cannot automatically claim backward-class reservation benefits in the new religious community solely on the basis of their previous caste status. The judgment upheld the Madras High Court's decision striking down a 2024 Tamil Nadu government order that permitted such certification for specified communities
  • The Election Commission of India ordered a Special Summary Revision of electoral rolls in 14 states and three Union Territories, using January 1, 2027, as the qualifying date for voter eligibility. The draft rolls are scheduled for publication on November 12, claims and objections will be accepted until December 11, and the final rolls are due on January 4, 2027
Delhi HC refuses to ban CJP's Tiranga rally at Central Park in Connaught Place today /////// Police says will control and regulate it /////// NDMC closes the park for the public on Friday and Saturday
oppn parties
Carnage On Stock Exchanges: Investors Lose Rs 6.71 Lakh Crore In A Single Session

By A Special Correspondent
First publised on 2022-05-19 17:46:06

The stage was set for a rout in the stock markets on Friday as global and local cues were negative. The Dow Jones had crashed by 1000 points or 3% on Thursday and the UK had reported that inflation was at 9%, the highest in over 40 years. With India also reporting that inflation, as measured by the wholesale price index (WPI) had breached the 15% level and was highest in 9 years, investors were spooked. The markets also seem to be getting ready for another big hike in interest rates as the RBI governor gave a hint yesterday by saying that the off-cycle hike was done to prevent the shock of a much bigger hike in the regular June meeting. The RBI is likely to raise rates by 75 basis points, effectively negating the concessions given due to the pandemic and bring rates back to what they were in March 2019.

All this, and the fact that technology stocks have lost investor faith all over the world, meant that the Sensex crashed by 1416 points to end at 52792 and the Nifty slid by 430 points to finish the day at 15809 points. Both the indices slumped by more than 2.5%. As all over the world, IT stocks were hammered down by up to 6% and investors lost as much as Rs 6.71 lakh crore in a single session. FMCG major ITC bucked the trend and rose by 3%. FIIs continued to be net sellers.

The carnage does not seem to have ended as after the Indian markets closed for business, the US markets continued to witness selling pressure. The Dow Jones was down 1.5% on Friday after the big slide a day earlier. This shows that the bears have got a firm grip on the markets and the period of volatility witnessed in Indian markets for over a month now has now become a one-way downhill journey. It is difficult to predict when sentiments will improve as the world battles with inflation, disturbed supply chains due to the war in Ukraine, monetary policy tightening by central banks worldwide and the after effects of a long pandemic. 

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