Elon Musk's platform, formerly known as Twitter, surged in popularity on Apple's App store in India, claiming the top spots on both iPhone and iPad rankings. This growth occurred amidst heightened user engagement during the US presidential election, which Musk actively contributed to by posting updates and engaging with users. Despite controversies and policy shifts, Musk's vision for X as an "everything app" continues to attract a large user base, further supported by the introduction of premium features and a streamlined design.
Investors and market enthusiasts in India will have to take note of the stock market holiday list for 2024, as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will be observing a holiday today in observance of the Maharashtra Assembly Election 2024. This public holiday applies to all divisions of the NSE and BSE, including the equity, derivative, and SLB segments. To stay informed and avoid any confusion, individuals can refer to the BSE website for the full list of stock market holidays in 2024. This sudden holiday was added to the schedule due to the announcement of the Maharashtra Election on November 20, 2024. The Indian stock market will resume trading on December 25, 2024, after the Christmas holiday.
Indian stock markets will shut down on November 20, 2024, due to the Maharashtra Legislative Assembly elections. This announcement by the Election Commission of India has led to a one-day market closure, with trading and settlements not taking place on the National Stock Exchange and the BSE. The next market holiday will be on December 25 for Christmas, followed by the final market holiday for the year. However, the Multi Commodity Exchange (MCX) and National Commodity & Derivatives Exchange (NCDEX) will also be closed for the day, with contracts expiring on November 20 settling a day earlier. As for the market recap on November 18, 2024, both benchmark indices ended in the red due to weak global cues and cautious investor sentiment ahead of the state elections.
As the US election results near their end, speculation is rising about the potential impact on the Indian economy and domestic equity markets. Experts believe that a clear outcome could provide relief and stability in the markets, potentially leading to increased trade relations with the US. However, a Republican-led government under Trump could also result in a more protectionist stance and increased tariffs, which could have consequences for sectors like pharmaceuticals and IT. The delay in US rate cuts could also impact FPI flows into India and create challenges for the RBI in managing domestic inflation.
As the US presidential election approaches, one question on the minds of many is how a second Trump administration may impact India-US relations. With a focus on "America First" principles and a potential continuation of disruptive foreign policies, a renewed Trump presidency poses both opportunities and challenges for the strategic partnership between India and the US. Possible impacts on trade, immigration, and the Indian talent pool in the US are just a few areas to watch as the election results unfold.
With the US election results just around the corner, stock markets globally are experiencing volatility. Analysts have different opinions on whether a Trump or Harris win would be beneficial for India. While Nomura India sees Harris as net-positive, Emkay Global believes a Republican sweep would be good for India in terms of FPI positioning but the rally may not last. In terms of sectors, JM Financial predicts a rate cut by RBI in case of a Democrat win, which would benefit NBFCs, while a stronger dollar due to a Republican win could lead to a tighter interest rate regime in India.
With the race for the White House heating up between former President Donald Trump and Vice President Kamala Harris, early voting is in full swing in the United States. As anticipation builds for the election results, states are gearing up for a busy polling day on Tuesday, September 6. The swing states, which will play a crucial role in deciding the outcome, will have polls open at varying times and results could take some time to be announced. For those in India, here is a breakdown of the results timings in the Eastern and Pacific Time zones and what to expect from key states like Georgia, North Carolina, Michigan, and Arizona.
In the recent assembly election in the Indian state of Jammu and Kashmir, the victory of the National Conference-Congress alliance over the BJP signifies a peaceful and democratic triumph over the decades-long shadow of guns in the region. The rigged 1987 election, which led to the entry of terrorism in Kashmir Valley, still lingers in the minds of the local population. However, the recent election, which saw participation even from separatists, proves that democratic processes can prevail over extremism. The bold move of the central government to abrogate Article 370 and integrate Kashmir with the rest of India has allowed for this progress.
According to the Election Commission of India data, Congress leader Adhir Ranjan Chowdhury lost to TMC candidate Yusuf Pathan in Baharampur constituency by around 85,022 votes. The result highlights a shift in political power in West Bengal, with the Samajwadi Party-Congress alliance securing 43 out of the state's 80 Lok Sabha seats compared to the NDA's 36. Prime Minister Modi's visit to the ancient Nalanda University ruins also signifies the growing importance of Bihar, which holds significant political weight in the upcoming 2024 Lok Sabha elections.
In the midst of election campaigning, Congress leader Rahul Gandhi found a unique way to bring attention to the struggles of small businesses in India. He used the popular sweet, jalebi, as a metaphor for promoting local industries and providing employment opportunities. This sparked a trend on social media and even resulted in a political backlash from the BJP. With his focus on promoting small businesses, Gandhi's jalebi strategy gained both praise and criticism.