Tahawwur Rana Returns: Recalling How Stock Markets Reacted To 26/11 Attack

India has brought Tahawwur Rana, one of the key accused in the 26/11 Mumbai terror attacks, from the United States. This happened after the US Supreme Court rejected his last attempt to stop his extradition.

Earlier, in February, US President Donald Trump had approved Rana’s extradition to India. His name had come up during the questioning of David Coleman Headley, another person involved in the attacks.

The 26/11 Mumbai attacks shocked the entire country, causing chaos in India’s financial capital and killing over 160 people. Despite the tragedy, Indian stock markets showed surprising strength in the days following the attacks.

Also Read:  What Happened To Tata Stock After Terrorists Stormed Taj On 26/11? Why Tahawwur Rana’s Return Is Historic

Stock Markets After Mumbai Attacks

According to exchange data, On November 28, 2008, just two days after the attacks began, the BSE Sensex opened 137 points or 1.52% lower at 8,898.18, down from its previous close of around 9,026. However, by the end of the trading day, the market had rebounded strongly. The Sensex closed 66 points higher, ending the day at 9,092, up 0.73%.

The Nifty 50 followed a similar trend. It had closed at 2,752.25 on November 26, just before the attacks. On November 28, it opened at 2,745.70, but managed to close higher at 2,755.10, gaining marginally during the session.

Overall, the market's performance during the crisis was surprising. Over the two days while the attacks were ongoing, the Sensex gained nearly 400 points, and the Nifty rose by about 100 points.

In currency markets, the Indian rupee, which had initially fallen close to 1% in early trade, bounced back and ended up rising 1.5% against the US dollar.

Who is Tahawwur Rana?

Tahawwur Rana is a Canadian citizen of Pakistani origin. He once worked as a doctor in the Pakistan Army. He is accused of helping to plan the 2008 Mumbai attacks.

Investigators say that Rana knew about the plan and stayed in touch with the attackers and their leaders in Pakistan.