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  • 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
Tragedy in Kolkata: Stampede at the Chor Bagan Pujo results in 18 people losing their lives and scores injured /////// The stampede was caused by a sudden downpour which made people in the heavy crowd run for cover
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Stocks: Carnage on Monday

By Linus Garg
First publised on 2022-06-14 03:02:02

About the Author

Sunil Garodia Linus tackles things head-on. He takes sides in his analysis and it fits excellently with our editorial policy. No 'maybe's' and 'allegedly' for him, only things in black and white.

After a slide of 1069 points on Friday, the Sensex went down by 1456 points on Monday.  The two-session carnage has wiped out more than Rs 9 lakh crore investor wealth. Such was the across-the-board sell-off that among the major shares, only Nestle India was in the green and all other shares tumbled by 2-4%. The broader Nifty slid by 427 points to 15774. The carnage was witnessed across sectors with banking, IT and metals leading the slide.

Experts said that with FIIs taking funds out of India as there is a chance that the US Fed will go for a good rate hike and squeeze out money from the system due to the record inflation in US, the Indian markets will mirror what is happening in bourses worldwide. After fears of stagflation being stoked by some economists, the sentiment has soured and investors are looking for safer investment instruments. With overnight sell-off in US markets, the outlook for Indian markets remains negative on Tuesday too.

But the Indian economy, despite elevated inflation, is showing signs of growth although the pace seems to have slackened. As per recent numbers, it is the fastest growing major economy in the world and although consumer demand has still not picked up, the outlook remains positive. But inflation, supply chain disruptions and high commodity and crude prices can play spoilers and that is why the confidence in the stock market is taking a beating.

Yet, if one has a long term outlook, there are many stocks that are now available at a bargain. But one will have to do proper research and invest with care. The bottom has not been reached yet and investors should wait. Remember, this is the time when one will be flooded with text messages from unverified sources asking one to buy this or that share at a bargain with a promise of astronomical rise in a short time. Steer clear of falling into such traps. Invest wisely. 

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