News Broadcasting
‘Black Monday’ sees bloodbath on the bourses
MUMBAI: “Black Monday”! “Bloody Monday”! Even as the Indian stock market witnessed one of the worst plunges in its history, twice forcing regulators to halt trading, one tribe of people who had a field day were the wordsmiths.
Wiping out a market cap of over Rs 1,240 billion, the Sensex’s steep decline is the second largest after the 1992 stock scam when it collapsed by nearly 570 points or over 12 per cent.
However, the Sensex recovered smartly in late deals to close at 4506, down a whopping 11 per cent. The Nifty also shed 194 points to close at 1389.Expectedly, media scrips also suffered huge losses. There were two exceptions though in the form of Zee Telefilms and Gemini Communication, both of which made some gains.
Zee gained at the end of the day. It bounced back from a low of Rs 102 to Rs 125 in the intra-day trade and finally settled at Rs 120.65, up 6.44 per cent over its previous close. Over 132.7 million Zee shares were traded.
Queried as to what could be the reason why Zee managed to buck the trend as it were, a merchant banking source said that the scrip was one that had not made any real gains during the upswing that the markets had seen in the last few months. The source was of the view that since the scrip had anyway been hovering near the Rs 100 mark, there was resistance to it’s going lower than that.
The “senseless” fall of the Sensex could not have come at a worse time for Dr Prannoy Roy’s New Delhi Television Limited (NDTV). The news broadcaster has received the listing and trading approval from BSE and NSE and its shares were expected to start trading from tomorrow (18 May). indiantelevision.com learns that the trading in NDTV scrips has been now postponed to Wednesday, 19 May. The ceremonial opening gong is scheduled for 9:50 am.
Ironically, NDTV was the biggest gainer from these elections as far as perceptions and market share ramp up were concerned. The tidal wave that has hit the bourses will likely push down the opening share price of the NDTV scrip majorly. By how much is what Dr Roy and company will be watching with trepidation.
Taken cumulatively, the loss in market capitalisation over the last two days of trading (Friday and today) works out to a mind-boggling RS 2,260 billion. So severe was the bloodbath on the bourses that brokers in Mumbai took to the streets at Dalal Street shouting slogans deriding the Sonia Gandhi-led Congress Party and its key ally, the Left Front.
It was not just Sonia and the communists that got the brokers hot under the collar though. The media was also targeted. Mediapersons and television crew were threatened outside the Bombay Stock Exchange by about 200 people and ordered to move their OB vans and equipment away.
The agitators were angry with the mediapersons “for presenting a wrong picture during elections and exit polls”.
They said that distorted media reports had led to panic on the bourses. “Your exit poll results has ruined us and the statement of communist leaders on television channels have driven away FIIs. Why do you call these communist leaders to your television studios? These communists have driven away investment from West Bengal. What have they given the country?” shouted a broker.
“Why are your satellite television vans and reporters here? Get out of here. We have lost everything and you have come to report and make money out of our sorry plight,” one angry stock broker was quoted in a media report as saying.
“Why do you want to know my name? You will come to know tomorrow as many of the brokers would have committed suicide by then. Read the newspaper then,” shouted another.
The agitators threatened to damage the OB vans if they were not moved away. Somebody from the mob even spat on a female reporter of a TV channel covering the demonstration.
As the situation grew tense, most OB vans were moved away from the BSE building. The police soon arrived at the scene in force, fearing that the situation would get out of hand and cleared Dalal Street after telling the brokers and reporters to get out from the BSE building.
Investors were also angry with the Securities and Exchange Board of India (Sebi), which, they said, was not doing what was required to correct the situation. “Has it (Sebi) stopped functioning,” some of them wondered.
News Broadcasting
Rising Bharat Summit 2026 spotlights India’s global ascent
PM Modi keynotes two-day event with ministers, diplomats and icons in New Delhi.
MUMBAI: India didn’t just host a summit, it threw a coming-out party for a nation ready to own the global stage. The News18 Rising Bharat Summit 2026, held on 27–28 February in New Delhi, emerged as a high-octane platform for ideas, vision and strategic dialogue, uniting national leadership, global policymakers, industry titans, defence strategists and cultural icons under the theme “Strength Within”.
Prime minister Narendra Modi set the tone with a keynote that framed India’s resurgence as a reclaiming of lost potential built over generations. “In previous industrial revolutions, India and the Global South were merely followers,” he said. “But in the era of Artificial Intelligence, India is a partner in decisions and shaping them.” He highlighted the country’s thriving AI startup ecosystem and the recent AI Impact Summit attended by over 100 nations.
Union minister Piyush Goyal (Commerce & Industry) stressed India’s readiness to scale exports and deepen manufacturing, while Ashwini Vaishnaw (Railways, I&B, Electronics & IT) positioned technology and infrastructure as twin engines of growth, especially in AI and digital trust. Jyotiraditya Scindia (Communications & North East Development) revealed India’s ambition to lead in 6G through the Bharat 6G Alliance and partnerships with over 30 countries.
Global voices added depth: former Singapore Foreign Minister George Yeo called India’s development “self-sustaining” and strategically vital; ex-UK Chief of Defence Staff General Sir Nick Carter asserted India deserves a seat at the great powers’ table; and former US Commerce Secretary Carlos M. Gutierrez joined ambassadors from Norway, Germany and Sweden in discussions on geopolitical realignment, sustainability and defence preparedness.
Other speakers included veteran investor Ramesh Damani, World Gold Council CEO David Tait, Vianai Systems founder Dr Vishal Sikka, DeepTech Bharat Foundation co-founder Shashi Shekhar Vempati, defence experts Rajesh Kumar Singh, Sunil Ambekar, Patrick McGee, Tom Cooper and Adrian Fontanellaz, plus cultural and sporting icons Kangana Ranaut, Saina Nehwal, PR Sreejesh, Mohammed Shami, Yuzvendra Chahal, Mithali Raj, Anil Kapoor and Yami Gautam.
The summit was supported by Jio Financial Services (Presenting Partner), Phonepe and DS Group (Co-Presenting Partners), Pernod Ricard India and Kia Seltos (Powered By & Driven By), state governments of Uttar Pradesh, Chhattisgarh and Uttarakhand (State Partners), and associate partners including NSE, M3M Foundation and Reliance Industries.
Broadcast live across News18 Network, CNBC-TV18 and CNBC Awaaz, the event reinforced India’s image as a confident democracy and emerging global power proving that when strength comes from within, the world can’t help but watch.
