updated on 31 Dec 2016
The information provided on this website is for educational purpose and not to be considered as investing or trading advice.
The investment and trading has to be done on sole discretion and www.daytradingshares.com or any person related to this site Should not be held responsible for the outcome.
Copyright © 2007-2016, www.daytradingshares.com. All Rights Reserved.
Major Stock market crashes in 2016
The market has been reeling under this ever since the Modi government threw the demonetisation bouncer November 8 that touched the life of every Indian.
The government, in its effort to weed out black money from the system, demonetised Rs 500 and Rs 1,000 bank notes (almost 86 per cent of the currency in circulation).
Equity markets suffered a major jolt in the wake of this shocker, witnessing heavy selling from foreign investors.
Since November 9, the benchmark Sensex has fallen nearly 4 per cent so far.
Cyrus Mistry’s abrupt removal as Tata Sons Chairman
Tata Group Board dropped a bombshell on October 24 by abruptly terminating Cyrus Mistry as group chairman with immediate effect, sending shock waves through the corporate world.
Reacting to this shocker, equity benchmark Sensex ended the day in the red on October 25 with Tata Group stocks contributing to the fall in a big way.
Shares of Tata Steel fell 2.6 per cent while TCS and Tata Motors dropped 1 per cent each.
Surgical strikes on Pakistan
Sending out a strong message to Pakistan-sponsored terrorism, the Indian Army on September 29 conducted surgical strikes on terror launch pads across the Line of Control in response for the Uri attacks conducted earlier in September.
This was the first time when the Indian government had made this covert action public.
Minutes after the news broke, the Sensex dived over 500 points.
Even Pakistan's stock market slumped over 500 points in a kneejerk response to the development.
RBI Governor - Rajan's exit
On a lazy Saturday on June 18, former RBI governor Raghuram Rajan took everyone by surprise by announcing his plan to not seek a second term as the governor of the central bank.
Although, the market did not react negatively next Monday (June 20), it nosedived 374 points when Rajan officially stepped down from office on September 23.
India-Mauritius tax treaty
On May 10, India and Mauritius signed a protocol to amend the tax treaty dated August 24, 1982, under which India did not have the right to tax capital gains arising to a Mauritius resident on the sale of shares of Indian companies.
However, under the amended treaty, India will impose capital gains tax at 50 per cent of the prevailing domestic rate for two years beginning April 1, 2017. Full rate will apply from April 1, 2019.
Reacting to this, the Sensex plunged 175 points on May 11 and closed below its crucial psychological level of 26,000 at 25,597.02.