Stock Market Surge, Economic Slowdown, and Political Drama: Top News of November 29

Here’s a roundup of the most significant stories on November 29:

1. Stock Market Rebounds: Nifty 50, Sensex Rise Over 1%

Despite global tensions, the Indian stock market made a notable recovery, driven by strong performances from key players like Bharti Airtel, Reliance Industries, and ICICI Bank. The Nifty 50 ended the day with a 0.91% gain at 24,131, while the Sensex climbed 0.96% to 79,802. However, broader markets showed a weaker performance, with the Nifty Midcap 100 and Nifty SmallCap 100 trailing behind the major indices.

2. India’s GDP Growth Slows to 5.4% in Q2, Hits Near 2-Year Low

India’s economic growth slowed to 5.4% in the July-September quarter, marking the slowest pace in nearly two years. Contributing factors included weak performance in manufacturing and mining sectors, along with lower consumer spending. Despite the slowdown, India retained its position as the fastest-growing major economy, outpacing China, whose GDP grew by 4.6% in the same period.

3. Adani ‘Bribery’ Allegations: India Denies Receiving US Summons

India officially denied receiving any summons from the United States related to bribery allegations involving billionaire Gautam Adani. The US Department of Justice had accused Adani and others of paying $265 million in bribes for solar power contracts. The Ministry of External Affairs clarified that the case is a legal matter between private firms and the US government.

4. India’s Stance on Bangladesh Arrests and Protection of Minorities

India expressed concerns over the recent arrest of a Hindu priest in Bangladesh, urging the Bangladeshi government to protect its minorities. This came after Chinmoy Krishna Das was denied bail for allegedly disrespecting the national flag. India reiterated its call for the Bangladeshi government to address the rise in extremist rhetoric and violence against minorities.

5. Maharashtra CM’s Future in Limbo Amid Political Drama

The suspense surrounding the Maharashtra Chief Minister’s position deepened as Eknath Shinde, the state’s caretaker CM, delayed a crucial meeting on government formation. Shinde, who had met with Union Home Minister Amit Shah late Thursday, was expected to hold a key Mahayuti alliance meeting on Friday. However, sources indicated that the meeting might now be postponed to Sunday as Shinde travels to his native village.

Stay tuned for more updates on these developing stories.