Market Meltdown: Over ₹11 Lakh Crore Lost as NEET UG Exam Cancelled Amid Paper Leak Scandal

In a tumultuous day for investors, the Indian stock market witnessed a significant decline, erasing more than ₹11 lakh crore in market capitalization. The sharp downturn of over 1.8% can be attributed to rising concerns over the economic ramifications of ongoing conflicts in West Asia, particularly involving the United States and Iran, which have led to increased instability and uncertainty in global markets.

The benchmark Sensex dropped by more than 1,450 points, equivalent to a 1.9% decrease, closing the trading session on a gloomy note. Similarly, the Nifty index fell by over 430 points, marking a 1.8% decline. This downturn marks the fourth consecutive day of losses for the major indices, following a brief recovery in April after a challenging March.

Adding to the economic distress, the Indian rupee plunged to an all-time low of 95.6 against the US dollar. This depreciation is largely a result of soaring global oil prices and the broader economic challenges stemming from geopolitical tensions. The combination of these factors has created a perfect storm, leaving investors anxious about the financial outlook.

In a separate but significant development, the National Testing Agency (NTA) has cancelled the 2026 undergraduate National Eligibility cum Entrance Test (NEET UG) amid allegations of a paper leak. The decision followed the circulation of a “guess paper” in Rajasthan, which reportedly contained questions alarmingly similar to those in the actual NEET exam. As a result, an investigation has been initiated into this serious breach of academic integrity.

The NEET-UG exam, which was conducted on May 3, serves as a crucial gateway for students aspiring to pursue medical education in India. The cancellation of this exam not only disrupts the academic aspirations of countless students but also raises questions about the efficacy and security of examination processes in the country. The NTA’s actions reflect the growing scrutiny of such incidents as stakeholders demand accountability and transparency in educational assessments.

Source: scroll.in