India experienced a week of significant developments, marked by a dramatic surge in the stock market, alongside major political events and international incidents. The combined market capitalization of six of India’s top ten companies skyrocketed by a staggering ₹2,03,116.81 crore last week. This impressive growth propelled the BSE Sensex up by 1,906.33 points (2.38%) and the NSE Nifty 50 by 546.7 points (2.26%), marking their best weekly performance in six months. This bullish trend was fueled by positive global market sentiment, an RBI policy announcement meeting market expectations, and increased investment from Foreign Portfolio Investors (FPIs), who became net buyers of Indian equities during the first week of December. Companies like Tata Consultancy Services and HDFC Bank led the charge, significantly contributing to this remarkable market surge.
Meanwhile, international news cast a shadow on the positive economic climate. The tragic murder of 20-year-old Harshandeep Singh, an Indian Sikh student working as a security guard in Edmonton, Canada, sent shockwaves through the community. Canadian authorities swiftly apprehended two suspects, Evan Rain and Judith Saulteaux, both aged 30, charging them with first-degree murder. This incident has once again highlighted the safety concerns for international students studying abroad.
On a different note, celebrations erupted in Syria as a rapid rebellion ended the 54-year reign of the Assad family. Syrian state television aired a statement from rebel groups announcing the overthrow of Assad and the release of all prisoners. The rebels subsequently imposed a curfew in Damascus, underscoring the ongoing uncertainty in the aftermath of this momentous change.
Closer to home, India witnessed a continuation of the farmers’ protest. A planned ‘Delhi Chalo’ march was temporarily suspended following a clash with security personnel, resulting in injuries among the protesters. The Haryana police intervened, stopping a group of 101 farmers near Shambhu and using tear gas and water cannons to disperse the crowds. This incident further underscores the ongoing tension between protesting farmers and the government.
In a moment of international recognition, Pope Francis elevated Indian priest George Jacob Koovakad to the position of Cardinal. Prime Minister Narendra Modi expressed his congratulations via social media, highlighting the pride this appointment brings to India.
Finally, the Indian political landscape saw further developments with the BJP linking senior Congress leader Sonia Gandhi to an organization funded by the George Soros Foundation. The party’s statement on X (formerly Twitter) highlighted the potential for foreign influence on Indian internal affairs. In another political development, PDP leader Iltija Mufti ignited a debate after her comments on Hindutva were interpreted as controversial, a situation she later attributed to misrepresentation of her statements. These events, alongside the economic upswing, create a complex picture of the current state of affairs in India and its place on the global stage.
