Dhanteras proved to be exceptionally auspicious for the national economy. While stock markets in the US, China, and Japan suffered massive crashes, the domestic market remained exceptionally buoyant. Both the Sensex and Nifty registered record surges, with investors pocketing over one lakh crore rupees in a single day.
Tech Plunges in America Versus Indian IT Growth
Major AI companies in the US witnessed their shares plummet steeply. In sharp contrast, Indian IT stocks recorded robust gains. Foreign institutional investors pumped significant capital into local bourses, while the Indian rupee strengthened, bringing the exchange rate to 94 rupees per dollar. Crude oil prices also witnessed a decline in international markets.
Elon Musk Losses and Global Market Reactions
The world's richest man, Elon Musk, saw his net worth plummet by 40 billion dollars in a single stroke. This staggering blow is enough to understand the fate of those who backed Donald Trump in the stock market. The crashing of AI firms highlights the dismal state of the US equities market. However, Europe managed to escape severe losses, seeing a modest market recovery. Market dealers noted that the era of arbitrary US tariffs is likely over, which bodes well for Europe.
The Upside for Indian Trade and Investments
The tangible benefits were most visible on Dalal Street, as India now holds the upper hand in prospective trade negotiations with the United States. The constant threat of tariff imposition by Donald Trump has effectively dissipated. Lower oil prices and a softer dollar imply that the stars are aligned favorably for the domestic market. Donald Trump's electoral defeat brought welcoming news for everyone investing in Indian equities, setting the stage for explosive festivities this Diwali.
Bihar Police Encounter Claims Three Wanted Criminals
Shifting focus to state politics, the Bihar police gunned down three hardcore criminals namely J P Yadav, Bablu Yadav, and Raja Sharma during an encounter in Maner. All three deceased individuals were wanted in connection with multiple murder cases. However, the shootout immediately heated up the political atmosphere in Bihar, leading to intense uproar and incidents of misbehavior directed at law enforcement personnel.
Political Allegations Raised Over the Shootout
Misa Bharti, daughter of Lalu Yadav, leveled serious allegations, claiming that the government is treating the Yadav community like enemies and labeling ordinary citizens as criminals to execute them in fake encounters. While public skepticism often surrounds police encounters due to tropes involving overturned vehicles and sudden escapes during transit, the circumstances in Maner were distinctly different.
Addressing the Controversy Surrounding the Criminals
The suspects in this case were hiding, opened fire on the police party, and were neutralized in the ensuing crossfire. According to the police, concrete records establishing their long criminal history are fully documented. Despite this, political motives and caste narratives were injected into the episode. Raising questions about whether law enforcement should check caste credentials before apprehending concealed felons or demand identity cards before returning fire reflects a deeply unfortunate mindset regarding criminal elements.
