Terror strikes Mumbai; Retailers on halt

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Trade and commerce in India’s financial capital came to a standstill on Thursday with the offices shut and trading suspended on all bourses after terror struck Mumbai last night, leaving over 100 people dead and more than 300 injured.

As terrorists took scores of domestic and overseas tourists hostage at two of the city’s top luxury hotels, the state government declared a public holiday and asked people not to venture out, crippling commercial activity in this otherwise bustling city.

‘Considering the prevailing abnormal situation and the government’s advice to people to stay at home, it has been decided to keep the market closed for the day,’ said Bombay Stock Exchange in a notice issued earlier today.

Commodity markets — NCDEX and MCX — remained closed too.

Terror revisited Mumbai and this time it redefined its modus operandi. It attacked the nerve of Indian economy as it was designed to create panic. The day has been declared as public holiday, the high streets and upmarkets remained shut including Lifestyle, Pantaloons, Reliance Retail chain and many others, resulting in heavy losses for the retailers.

Leopold Café, a landmark tourist destination, also witnessed terrorist activities resulting in international restaurant chain deferring their planned launches.

—IndiaRetailing Bureau

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