Market News

The domestic stock market closed the week on a downswing, with the NSE Nifty 50 declining by 0.42% or 82.05 points to settle at 19,542.65. The BSE Sensex also dropped, losing 231.62 points to end at 65,397.62. It was a broadly negative day for the broader indices, and Midcap stocks took the lead in the losses.

The Bank Nifty index also faced a minor setback, shedding 0.07% or 31.45 points to close at 43,723.05. Most sectoral indices ended in negative territory, except for the Private Bank sector.

Top laggards on the NSE Nifty 50 included ITC, Tata Steel, BPCL, Divi’s Labs, and Cipla. On the flip side, the gainers featured Kotak Mahindra Bank, IndusInd Bank, SBI Life Insurance Company, TCS, and NTPC. The India VIX, a measure of market volatility, settled down by 0.55%.

We're nearing the end of the year, and in India, it can only mean one thing. WEDDING SEASON IS HERE! Now I know some of you hate the thought of going to a random uncle's wedding just because your father said you do, but I for one love the free food. Don't judge. Here's an article on Indian weddings which I'm sure is something you didn't expect.

The Confederation of All India Traders (CAIT) has published its projections for the upcoming Indian wedding season. Their estimates indicate a substantial economic activity, with a predicted value of 4.25 trillion rupees (approximately $51 billion) over a 23-day period from November 23 to December 15. 

The estimated figure of 4.25 trillion rupees ($51 billion) for this year's Indian wedding season represents a notable increase from the previous year's 3.75 trillion rupees ($45 billion). This growth underscores the significant economic impact of these matrimonial festivities, as reported by Mint.

According to the research conducted by CAIT, approximately 3.5 million weddings are expected to take place during this period, contributing significantly to this economic surge.

The word for this week is:

In a pivotal ruling on October 17, India's Supreme Court made a decision that left many scratching their heads. While the court has been an advocate for LGBTQ rights and understanding, it declined to legalize same-sex marriage, putting the onus on the parliament to shape the laws of the land.

The verdict, delivered by a panel of five esteemed judges, opened a Pandora's box of questions. It's like the court acknowledged the vibrant colours of love within the LGBTQ community but refrained from giving them a canvas to paint their unions legally.

"The legal recognition of a relationship like marriage has some legal incidents. There are many incidents in such homosexual relationships. The cases of separation or break up in such relations are as frequent as among heterosexuals. If the homosexual couple adopts a child and then separates, where does the child go? You will have to protect the rights of the child also," said Malhotra, who was India's first woman advocate to become the judge of the apex court.

On Police Commemoration Day, Director General of Jammu and Kashmir Police, Dilbagh Singh, delivered an optimistic message on Saturday, October 21. He stated that terrorism in the Union Territory was nearing its end. The DGP expressed confidence that the Jammu and Kashmir Police would ensure the complete elimination of the terrorism menace. He further highlighted that the long-cherished dream of a tranquil and peaceful Kashmir valley was finally becoming a reality.

Director General of Jammu and Kashmir Police, Dilbagh Singh, emphasized that despite Pakistan's attempts to disrupt the peace process, the police would ensure that such efforts did not succeed.

He paid tribute to the immense sacrifices made by over 1600 security personnel over the past three decades in the fight against terrorism in the region. Singh underscored the role of these sacrifices in yielding positive results, leading to the gradual decline of terrorism in the valley. He expressed confidence that Jammu and Kashmir would soon become free from the grip of terror. In his words, "Jammu and Kashmir will soon be terror-free, and we salute each and every martyr who laid down their lives for the country and peace."

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