The Indian stock market indices experienced a decline on Wednesday, driven by profit booking at higher levels. The Sensex plunged by 426.87 points, closing at 79,924.77, while the Nifty 50 ended 108.75 points lower at 24,324.45. Despite reaching record highs during the session, the market witnessed intensified selling pressure, causing significant drops. This market volatility highlights the ongoing economic uncertainties.
In political news, the Enforcement Directorate (ED) released a supplementary chargesheet in the Delhi Excise Policy case, naming Delhi Chief Minister Arvind Kejriwal as the accused number 37. The chargesheet also labeled Kejriwal as the ‘kingpin’ and ‘key conspirator’ in money laundering related to the case. This development adds to the ongoing political tensions in India.
Prime Minister Narendra Modi described his recent visit to Austria as ‘very special’, emphasizing the collaborative efforts between the two countries in areas like innovation, renewable energy, and artificial intelligence. Modi’s meeting with Austrian Chancellor Karl Nehammer focused on strengthening the bilateral partnership.
Meanwhile, a tragic road accident occurred on the Lucknow-Agra Expressway in Uttar Pradesh’s Unnao district, claiming the lives of 18 people and injuring over 19. The accident involved a double-decker sleeper bus that collided with a milk container. UP Dy CM Brajesh Pathak has directed hospitals near Unnao to be on alert, emphasizing medical care for the injured. The cause of the crash is being investigated.
In other business news, Glenmark Pharma announced its plans to offload a 7.84% stake in Glenmark Life Sciences through an offer for sale (OFS). The company’s board approved the sale of 96,09,571 equity shares.
In the realm of sports, Zaheer Khan is reportedly the frontrunner to become India’s bowling coach. This follows the retirement of Rohit Sharma and Virat Kohli, along with the end of Rahul Dravid’s tenure as head coach. Gautam Gambhir, set to assume the head coach role, is expected to announce his support staff soon.
Finally, there is speculation regarding a potential increase in pension benefits for central government employees under the National Pension System (NPS). Reports suggest that the NDA government is considering offering 50% of the last drawn salary as pension in the upcoming budget. This proposed change could have a significant impact on the financial well-being of government employees.
