Stock markets tumble, rupee down; investors lose Rs 6 trn

November 9, 2016

Mumbai, Nov 9: Stock markets tumbled today with an estimated Rs 6 lakh crore getting wiped off from the invested wealth within seconds of opening trade as Sensex plunged 1,689 points on the US election trends showing lead for Donald Trump and the withdrawal of high-denomination notes worth billions.

share market
Rupee also lost value, but gold appeared to be a gainer as an investment option with sovereign gold bonds and gold- linked Exchange Traded Funds gaining ground as key non-cash instruments.

The Sensex opened sharply lower at 26251.38 points this morning and moved further down within seconds to touch a low of 25902.45 points -- down 1,689 points from its previous close -- with all 30 stocks from the benchmark index trading deep in the red.

Buying at lower levels, however, helped the Sensex to recover some lost ground in late morning trade. It was down nearly 975 points at 1100 hours.

The overall investors' wealth, measured in terms of valuation of all listed stocks, was down by nearly Rs 6 lakh crore in early morning trade from nearly Rs 111.44 lakh crore at the end of yesterday's trade.

Stocks from real estate and other cash-focussed sectors were hit the worst, while the major losers in the Sensex pack were Adani Ports, ICICI Bank, Hero MotoCorp, ITC, TCS, HDFC, Bajaj Auto, M&M, Maruti and Tata Steel.

Gail, Cipla, ONGC, Wipro, SBI, Asian Paints, L&T, Sun Pharma, RIL, Axis Bank, Dr Reddy's and Infosys were also down sharply.

The rupee turmoil continued as it slumped further by 28 paise to 66.90 against the US dollar in morning deals on the government's sudden action to ban on Rs 500 and Rs 1,000 currency notes in order to curb black money.

The domestic currency opened lower at 66.70 as against yesterday's closing level of 66.62 per dollar at the Interbank Foreign Exchange (Forex) market. Soon, it spiralled downward further and languished between 66.90 and 66.70 during morning deals. It was quoting 66.90 at 1045 hrs.

Meanwhile, the dollar index dropped by 2.06 per cent at 95.91 against a basket of six currencies in the early trade.

Taking cues from global markets, spooked domestic investors indulged in across the spectrum sell-off including in secondline shares of midcap and small companies. All the indices pack led by realty, consumer durables, financials, banks, IT, auto, metal, healthcare, power and industrials languished in massive selling.

The Sensex was trading at 26,604.02 in late morning deals, showing a drop of 987.12 points, or 3.58 per cent, from its last close. The 50-share Nifty was also slumped by 319.35 points, or 3.74 per cent, to quote at 8,224.20.

Key frontline shares all fell led by Adani ports 6.29 per cent, Heromotoco 6.13 per cent, ICICI Bank 5.93 per cent, HDFC 5.00 per cent and TCS 4.83 per cent. Foreign portfolio investors (FPIs) bought shares worth a net Rs 86.66 crore yesterday, as per provisional data.

Overseas, Asian markets slumped in volatile trading as investors await the outcome of the US presidential election, with early results showing Donald Trump capturing several states.

In US, stocks finished in positive territory for a second straight day, as gains in the consumer goods, utilities and telecoms sectors led shares higher.

Comments

Shruti Dasari
 - 
Wednesday, 10 Feb 2021

Investing in Index trading , would be the good option to trade. Thankyou for this information.

Skazi
 - 
Wednesday, 9 Nov 2016

Naren and Bhupa.....Hope you have not lost anything in shares ..... I am happy that I have nothing to lose in this share market.... I was in this trading but I quit the share market 10 years ago ....
i pity the doctors and vakils of coastal districts, who are members of sangha parivar have lost heavily in cash and share market

Mangana kaiyalli manikkya ...

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News Network
December 16,2025

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The deletion of over 58 lakh names from West Bengal’s draft electoral rolls following a Special Intensive Revision (SIR) has sparked widespread concern and is likely to deepen political tensions in the poll-bound state.

According to the Election Commission, the revision exercise has identified 24 lakh voters as deceased, 19 lakh as relocated, 12 lakh as missing, and 1.3 lakh as duplicate entries. The draft list, published after the completion of the first phase of SIR, aims to remove errors and duplication from the electoral rolls.

However, the scale of deletions has raised fears that a large number of eligible voters may have been wrongly excluded. The Election Commission has said that individuals whose names are missing can file objections and seek corrections. The final voter list is scheduled to be published in February next year, after which the Assembly election announcement is expected. Notably, the last Special Intensive Revision in Bengal was conducted in 2002.

The development has intensified the political row over the SIR process. Chief Minister Mamata Banerjee and her Trinamool Congress have strongly opposed the exercise, accusing the Centre and the Election Commission of attempting to disenfranchise lakhs of voters ahead of the elections.

Addressing a rally in Krishnanagar earlier this month, Banerjee urged people to protest if their names were removed from the voter list, alleging intimidation during elections and warning of serious consequences if voting rights were taken away.

The BJP, meanwhile, has defended the revision and accused the Trinamool Congress of politicising the issue to protect what it claims is an illegal voter base. Leader of the Opposition Suvendu Adhikari alleged that the ruling party fears losing power due to the removal of deceased, fake, and illegal voters.

The controversy comes amid earlier allegations by the Trinamool Congress that excessive work pressure during the SIR led to the deaths by suicide of some Booth Level Officers (BLOs), for which the party blamed the Election Commission. With the draft list now out, another round of political confrontation appears imminent.

As objections begin to be filed, the focus will be on whether the correction mechanism is accessible, transparent, and timely—critical factors in ensuring that no eligible voter is denied their democratic right ahead of a crucial election.

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News Network
December 16,2025

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Prime Minister Narendra Modi on Monday held talks with Jordan’s King Abdullah II in Amman, during which the two leaders discussed ways to further strengthen bilateral relations, with the Prime Minister outlining an eight-point vision covering key areas of cooperation.

Describing the meeting as “productive”, PM Modi said he shared a roadmap focused on trade and economy, fertilisers and agriculture, information technology, healthcare, infrastructure, critical and strategic minerals, civil nuclear cooperation, and people-to-people ties.

In a post on social media platform X, the Prime Minister praised King Abdullah II’s personal commitment to advancing India–Jordan relations, particularly as both countries mark the 75th anniversary of the establishment of diplomatic ties this year.

“Held productive discussions with His Majesty King Abdullah II in Amman. His personal commitment towards vibrant India-Jordan relations is noteworthy. This year, we are celebrating the 75th anniversary of our bilateral diplomatic relations,” PM Modi said.

The meeting took place at the Al Husseiniya Palace, where the two leaders also exchanged views on regional and global issues of mutual interest. According to the Ministry of External Affairs (MEA), both sides agreed to further deepen cooperation in areas including trade and investment, defence and security, counter-terrorism and de-radicalisation, fertilisers and agriculture, infrastructure, renewable energy, tourism, and heritage.

The MEA said both leaders reaffirmed their united stand against terrorism.

PM Modi arrived in Amman earlier on Monday and was received by Jordanian Prime Minister Jafar Hassan, who accorded him a formal welcome. Following the talks, King Abdullah II hosted a banquet dinner in honour of the Prime Minister, reflecting the warmth of bilateral ties.

Jordan is the first leg of PM Modi’s three-nation tour. From Amman, the Prime Minister will travel to Ethiopia at the invitation of Prime Minister Abiy Ahmed Ali, marking his first official visit to the African nation. The tour will conclude with a visit to Oman.

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News Network
December 20,2025

train.jpg

At least seven elephants were killed and one calf injured after a herd collided with the Sairang-New Delhi Rajdhani Express in Assam's Hojai on Saturday morning, leading to disruption of rail services. 

The Sairang-New Delhi Rajdhani Express struck a herd of elephants, resulting in the derailment of the locomotive and five coaches. No passenger casualties or injuries were reported, officials said.

The New Delhi-bound train met with the accident around 2.17 am, PTI reported. The Sairang-New Delhi Rajdhani Express connects Mizoram's Sairang (near Aizawl) to Anand Vihar Terminal (Delhi). 

Railway has issued helpline numbers at the Guwahati Railway Station:-

•    0361-2731621
•    0361-2731622
•    0361-2731623

The accident site is located about 126 km from Guwahati. Following the incident, accident relief trains and railway officials rushed to the spot to initiate rescue operations.

Train Services Disrupted

Sources said that due to the derailment and elephant body parts scattered on the tracks, train services to Upper Assam and other parts of the Northeast were affected.

Passengers from the affected coaches were temporarily accommodated in vacant berths available in other coaches of the train. Once the train reaches Guwahati, additional coaches will be attached to accommodate all passengers, after which the train will resume its onward journey.

The incident occurred at a location that is not a designated elephant corridor. The loco pilot, upon spotting the herd on the tracks, applied emergency brakes. Despite this, the elephants dashed into the train, leading to the collision and derailment.

Last month, an elephant was killed after being hit by a train in Dhupguri in West Bengal's Jalpaiguri district. The incident took place on November 30. 

The adult elephant was killed on the spot, and a calf was discovered lying injured beside the tracks. 

Over 70 Elephants Killed In Train Collisions Over Last 5 Years

At least 79 elephants have died in train collisions across the country in the last five years, the Environment Ministry had informed Parliament in August.

In a written reply in the Lok Sabha, Minister of State for Environment Kirti Vardhan Singh had said the figure is based on reports from state governments and Union Territory administrations for the period 2020-21 to 2024-25.

He said that the ministry does not maintain consolidated data on the deaths of other wild animals on railway tracks, including in designated elephant corridors.

Singh confirmed that three elephants, including a mother and her calf, were killed on July 18 this year after being hit by a speeding express train on the Kharagpur-Tatanagar section in West Bengal's Paschim Midnapore district. The incident took place near Banstala between Jhargram and Banstala stations.

The minister said several measures have been taken jointly by the Environment Ministry and the Railways to prevent such accidents.

These include imposing speed restrictions in elephant habitats, pilot projects such as seismic sensor-based detection of elephants near tracks and construction of underpasses, ramps and fencing at vulnerable points.

The Wildlife Institute of India, in consultation with the ministry and other stakeholders, has also issued guidelines titled 'Eco-friendly Measures to Mitigate Impacts of Linear Infrastructure' to help agencies design railways and other projects in ways that reduce human-animal conflicts.

Singh added that capacity-building workshops were conducted for railway officials at the Wildlife Institute of India in 2023 and 2024 to raise awareness on elephant conservation and protection.

A detailed report titled 'Suggested Measures to Mitigate Elephant & Other Wildlife Train Collisions on Vulnerable Railway Stretches in India' had also been prepared after surveys across 127 railway stretches covering 3,452 km.

Of these, 77 stretches spanning 1,965 km in 14 states were prioritised for mitigation, with site-specific interventions suggested. 

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