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On the global front, though, tragic news with attacks in New Orleans and Queens marked a sombre start to the new year. PM Modi called the deadly attack in New Orleans a “cowardly act,” and over in Queens, a nightclub shooting left several injured.
Meanwhile, Tesla’s Cybertruck is making headlines again, but for all the wrong reasons—an explosion has reignited debates about vehicle safety.
Back home, the buzz is all about Budget 2025-26. FM Nirmala Sitharaman is in full swing with pre-budget consultations.
Mumbai’s real estate market is also making waves—it just hit its highest property transaction numbers in over a decade! And in climate news, the IMD officially confirmed it: 2024 was India’s hottest year since 1901.
Market at Close | Sensex rallies 1,436 points, Nifty surges 446 points as auto stocks lead gains
The equity benchmark indices extended their winning streak for the second consecutive session, with the Sensex closing 1,436 points higher at 79,944 and the Nifty advancing by 446 points to 24,189. Both indices gained nearly 2%, driven by strong performances in the IT and auto sectors.
The Nifty reclaimed key technical levels, surpassing its 20-day and 50-day moving averages during the session. Sectorally, all indices, except Nifty Media, ended in the green, with Nifty Auto surging nearly 4%. The broader market also participated, with the Midcap Index rising 657 points to 58,108 and Nifty Bank gaining 545 points to close at 51,605.5.
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On the other hand, the Indian rupee has been in a free fall versus the dollar, but this depreciating rupee is not negative for the economy. Latha Venkatesh explains what this means with the example of an umbrella.
‘Cowardly’: PM Modi condemns deadly New Orleans truck attack that killed 15
The incident occurred early on New Year’s Day when a driver deliberately plowed a pickup truck into a crowd in the iconic French Quarter. Police fatally shot the driver, but the attack left more than 30 people injured, turning Bourbon Street into a scene of chaos.
PM Modi expressed strong condemnation on Thursday. The deadly claimed 15 lives. In a statement posted on X, he extended his condolences to the families of the victims.
“We strongly condemn the cowardly terrorist attack in New Orleans. Our thoughts and prayers are with the victims and their families. May they find strength and solace as they heal from this tragedy,” PM Modi said.
More deets here
New York: At least 11 shot at in night club in Queens
In a yet another attack in the United States, at least 11 people were injured in a shooting in a night club in Queens, New York, reports said.
Reports said the gunfire started near the Amazura event hall at 91-12 144th Place in Jamaica, within the confines of the 103rd Precinct, at about 11:15 pm on January 1.
Read more about it here
Elon Musk sees an “upside” in Cybertruck explosion outside Trump hotel
Despite the tragic consequences of a Tesla Cybertruck explosion outside the Trump Hotel in Las Vegas on Wednesday, Tesla CEO Elon Musk has spotlighted the vehicle’s design as a mitigating factor in the overall impact.
Musk addressed the situation on X, confirming Tesla’s investigation into the explosion. “We have now confirmed that the explosion was caused by very large fireworks and/or a bomb carried in the bed of the rented Cybertruck and is unrelated to the vehicle itself,” he stated.
The blast, which law enforcement officials believe was linked to fireworks, gas tanks, and camping fuel connected to a detonation system, resulted in one fatality—the driver of the vehicle. Seven others sustained injuries but are in stable condition, according to Deputy Fire Chief Billy Samuels.
Full story here
First installment of incentive disbursements under the auto PLI scheme anticipated in Q4FY25
The first incentive disbursement of the Auto PLI Scheme is expected in Q4FY25. The scheme has led to incremental sales of over ₹10,000 cr for the sector.
Watch the video below for full details ⬇️
Financial sector and market experts confer with FM Sitharaman in pre-Budget meet
FM Sitharaman, on Thursday, convened her seventh pre-Budget consultation meeting with key stakeholders from the financial sector and capital markets. This was part of her ongoing series of discussions ahead of the Union Budget 2025-26, set to be tabled on Feb 1, 2025.
The meeting included senior officials like the Finance Secretary, secretaries from the Departments of Economic Affairs, Financial Services, and DIPAM, as well as the Chief Economic Adviser. These consultations are integral to shaping the government’s economic strategy for the upcoming financial year.
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So far, Sitharaman has interacted with a diverse array of stakeholders, including MSMEs, economists, and farmers’ associations. PM Modi also held deliberations with prominent economists and thought leaders at NITI Aayog last week, underscoring the importance of expert inputs in budget formulation.
You can follow our live coverage for real-time updates.
Adani bribery case: Now, Chandrababu Naidu wants ‘concrete proof’
Andhra Pradesh CM Chandrababu Naidu has said that the government will not be taking any action for now based on the bribery allegations made against the Adani Group in the US.
Naidu’s latest statement may seem like a step back from his earlier position on the floor of the state assembly on November 22 when he said, “If there’s wrongdoing, then action must be taken.” A November 26 report from the Reuters, citing sources, said the Naidu government may keep the Adani contract in abeyance after the indictment of the Ahmedabad-based conglomerate in the US.
However, Naidu has now said that the government cannot back out of contracts unless there is concrete proof and cancelling the contract may attract stiff penalties.
More deets here
Mumbai real estate market sees highest property registrations in 13 years, says report
As we enter 2025, the year gone by appears to be a silver lining in terms of property registrations for Mumbai. According to a report by real estate consultancy firm Knight Frank India, Mumbai’s real estate market witnessed a historic number of registrations, with over 1.41 lakh properties registered—marking an 11% increase from the 1,26,937 properties registered in 2023.
The report further states that in 2024, Mumbai recorded over 1.41 lakh property registrations, the highest in 13 years—showcasing the city’s sustained demand for real estate despite global economic challenges. Registrations stood at 1.26 lakh in 2023, 1.22 lakh in 2022, and 1.11 lakh in 2021. Historically, property registrations for 2020 and earlier have been under 1 lakh.
More details from the report here
2024 warmest year in India since 1901, says IMD
The year 2024 was the warmest on record in India since 1901, with the average minimum temperature settling 0.90 degrees Celsius above the long-period average.
The annual mean land surface air temperature across India in 2024 was 0.65 degrees Celsius above the long-term average (1991-2020 period), Mrutyunjay Mohapatra, director general of the India Meteorological Department (IMD), said at a virtual press briefing.
The year 2024 now ranks as the warmest year on record since 1901, surpassing 2016, which had recorded a mean land surface air temperature 0.54 degrees Celsius above normal.
Read here
D Gukesh & Manu Bhaker among 4 athletes to be awarded Khel Ratna
Olympic shooter Manu Baker, World Chess Champion D Gukesh, hockey player Harmanpreet Singh & para high-jumper Praveen Kumar will be honoured with Major Dhyan Chand Khel Ratna Award on January 17.
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