Sajid Akram, one of the two men behind the deadly Bondi Beach attack on December 14, had been homeless and living in a series of short-term Airbnbs across Sydney for at least six months before the massacre, new reports show.Even after his death, his estranged wife has refused to claim his body. Now the government is responsible for burial arrangements, according to 7NewsSydney.The 50-year-old was killed during a shootout with police following the ISIS-inspired attack that claimed 15 lives, including a child, and left dozens injured. His son, 24-year-old Naveed Akram, was apprehended at the scene and remains in hospital under police guard in critical but stable condition.Authorities have confirmed that Sajid Akram had travelled to Davao City in the Philippines from November 1 to November 28, just weeks before the attack. The area is known as a hotspot for Islamic State activity, and police believe he may have undergone military-style training there. Two other men from Sydney who visited the same region at the same time are now under investigation.Before the attack, the father-son duo reportedly told family members they were going on a weekend fishing trip to Jervis Bay. Instead, they opened fire from a pedestrian footbridge near Campbell Parade, targeting participants of the Jewish Chanukah by the Sea festival, as well as locals and tourists in the area. Loud bangs were heard, and people were seen fleeing for their lives.Investigations are ongoing into how the Akram men obtained high-powered weapons. Police discovered improvised explosive devices (IEDs) in the shooters’ vehicle and conducted raids across Sydney, including Naveed Akram’s home in Bonnyrigg. Sajid was originally from Hyderabad and held an Indian passport. He moved to Australia in 1998 and had limited contact with his family back home. His body remains in the morgue in the Coroner’s office as of now.The Bondi Beach shooting was treated as an act of terror by the Australian Prime Minister, Anthony Albanese. Israeli PM Netanyahu had earlier warned his Australian counterpart of growing anti-semitism and Jewish hate in the country.

NEW DELHI: The BJP-led Mahayuti alliance on Sunday recorded a sweeping win in Maharashtra’s local body polls, winning elections to 288 municipal councils and nagar panchayats by securing 207 local body president posts and leaving the opposition Maha Vikas Aghadi with a combined total of 44.As per the State Election Commission’s data, the BJP emerged as the single largest party with 117 municipal presidents, followed by the Shiv Sena with 53 and the NCP with 37. On the opposition side, the Congress won 28 posts, Shiv Sena (UBT) nine, and the NCP (SP) seven.Other registered parties accounted for four additional posts, while 28 municipal president seats were won by unrecognised registered parties. Independents secured five posts, the Commission said. Counting of votes for 286 municipal councils and nagar panchayats, conducted in two phases, showed the BJP emerging as the single largest party. Earlier, Maharashtra CM Devendra Fadnavis reacting to the results said, “48 per cent councillors have been elected on the BJP symbol, which is a record. The BJP has created another record with 3,300 councillors being elected from the party. BJP candidates have been elected as presidents in 129 municipal councils. In 75 per cent of the local bodies, Mahayuti nominees have been elected as municipal presidents.” He attributed the success to the party organisation and the government’s development agenda, noting, “It is the team effort – the organisation and government. We fought the polls on the development plank. I led a positive campaign on the development agenda. I never criticised any political leader or party. I solicited votes on the development agenda, the work done by the government so far, and our blueprint for the future.”

PM Narendra Modi hailed the results of the local body polls saying people of Maharastra stand with development. He went on to congratulate the Mahayuti for the victory.In a post on X PM said, “Maharashtra stands firmly with development! Grateful to the people of Maharashtra for blessing the BJP and Mahayuti in the Municipal Council and Nagar Panchayat elections. This reflects trust in our vision of people-centric development. We remain committed to working with renewed energy to fulfil the aspirations of every citizen across the state. I laud the BJP and Mahayuti Karyakartas for their hardwork at the grassroots.“Mahayuti allies – including BJP, Eknath Shinde-led Shiv Sena, and Ajit Pawar’s NCP – contested in some areas against each other. While opposition parties, mainly Congress and Shiv Sena (UBT), conceded defeat and raised allegations. There were alliances as well as “friendly fights” among Maha Vikas Aghadi (MVA) constituents as well. .State Congress president Harshwardhan Sapkal congratulated winning candidates but added, in a comment, that the state election commission “helped” the ruling alliance. Shiv Sena (UBT) leaders accused the Mahayuti of using “money and muscle power” and alleged EVM tampering, PTI reported. Shiv Sena (UBT) MP Sanjay Raut said the victory of Mahayuti was because of “tampering” of EVMs. He added the opposition couldn’t withstand a “hailstorm” of money.His party colleague Ambadas Danve alleged “money and muscle power” shaped the Mahayuti win. “The Mahayuti has bagged a larger number of seats as compared to constituents of the Maha Vikas Aghadi, thanks to the muscle and money power deployed by the ruling parties,” Danve told PTI in Chhatrapati Sambhajinagar. BJP state president Ravindra Chavan described the results as a “decisive mandate,” claiming Mahayuti had won more than 250 councils, nagar parishads, and nagar panchayats, with BJP candidates securing 134 council chief posts and over 3,000 councillor seats. “The Opposition levelled all kinds of allegations during the campaign, but people saw through them. Uddhav Thackeray himself said he had nothing to offer to the people and that is why his party was rejected. His party could not even win council chairperson posts in double digits,” Chavan claimed.He went on to say, “Now, Mumbaikars too would reject the opposition’s narrative in the upcoming BMC polls.” Union minister Nitin Gadkari called it an “overwhelming success” and “a victory for our workers.”While the Mahayuti largely dominated the elections, Congress and NCP retained control in some areas, including Chandrapur, Sangli, and Loha, with wins in Palghar for the Shiv Sena and in Nanded for Marathwada Janhit Party. Recounting was ordered in Kamptee municipal council after a narrow 116-vote BJP victory, officials said.(With inputs from agencies)

Financial analysts hinted at possible slowdown in gold and silver prices during the week while investors await crucial US economic data. Market activity is expected to be light due to the upcoming Christmas and New Year holidays, with key indicators like GDP, housing data, and consumer confidence figures affecting precious metal prices.Trading volumes are likely to decrease during the Christmas week, with many traders taking an extended weekend starting Wednesday. However, Pranav Mer from JM Financial Services warned that despite lower participation, market volatility could increase. “Moving into the Christmas week, traders expect some consolidation/correction in the markets as volumes are expected to remain low with major trader’s staying away due to long-weekend starting late on Wednesday. However, volatility/price swing may be higher due to low participation,” he said, as quoted by PTI.Gold has shown remarkable rally recently. MCX gold futures rose by Rs 574 (0.43%) last week, reaching an all-time high of Rs 1,35,590 per 10 grams on Thursday. This marked the fourth straight weekly gain and puts gold on track for its twelfth consecutive monthly increase.“The weak dollar, dovish federal reserve, lower inflation data in the US triggered the momentum in gold prices in the recent week,” said Angel One’s Prathamesh Mallya. Although gold has had a significant surge, silver has been the star, outshining the yellow metal with 8.08% gain last week. It touched a record high of Rs 2,08,603 per kilogram on Friday. The white metal has surged over 130% this year, driven by strong ETF flows and concerns about yen carry trades following the Bank of Japan’s expected rate hike.Looking ahead, experts remain positive about both metals but caution against immediate price corrections. Pranav Mer predicted that silver could test Rs 2,25,000-2,45,000 per kilogram “Silver remains positive, but risk reward remains unfavourable. In the near-term prices may test Rs 2,25,000-2,45,000 per kilogram. On the technical front… we continue to maintain positive view in gold and expect prices to rise further to Rs 1,40,000-1,45,000 by early next year, with support for reversal placed at Rs 1,29,000 per 10 grams,” he said.This bullish trend in precious metals isn’t just a regular market cycle. According to Pankaj Singh of SmartWealth.AI, similar price patterns have only occurred twice in the past fifty years, during periods of significant monetary and geopolitical stress.(Disclaimer: Recommendations and views on the asset classes given by experts are their own. These opinions do not represent the views of The Times of India)

NEW DELHI: Public procurement portal GeM has enabled government departments and entities to raise Rs 2,200 crore over the last about four years through the disposal of assets such as scrap, e-waste, old vehicles, machinery, and leasehold properties, an official statement said on Sunday. The government e-marketplace (GeM) operates as a digital platform through which ministries, departments, and public sector entities procure goods and services. In addition to this function, GeM facilitates disposal of government assets through its “Forward Auction” module, introducing online competitive bidding and improving transparency, efficiency, and value discovery in a process that was traditionally fragmented and paperwork-intensive. “Between December 2021 and November 2025, GeM’s Forward Auction module facilitated auctions worth more than Rs 2,200 crore, conducted over 13,000 auctions, onboarded more than 23,000 registered bidders and enabled participation from over 17,000 auctioneers,” the commerce ministry said. These figures underscore that forward auctions are no longer a pilot initiative but have evolved into a nationwide digital mechanism for government asset disposal, it said. A forward auction is a digital bidding process through which government departments sell assets such as scrap, e-waste, old vehicles, machinery and leasehold properties, including buildings and land, to the highest bidder. In this process, the government lists an item on the platform, registered bidders place competing bids and the highest offer is declared successful. Through GeM’s secure digital interface, departments are able to set reserve prices, define participation conditions and monitor bidding in real time, ensuring efficiency and transparency throughout the auction lifecycle. Citing an example, it said the State Bank of India auctioned 100 EWS (Economic Weaker Sections) flats in Lucknow and realised Rs 34.53 crore through the GeM platform. The other auctions through this module include the sale of unusable and obsolete articles by National Zoological Park here, and screened gypsum worth Rs 3.35 crore by FCI Aravali Gypsum and Minerals India.

NEW DELHI: The ruling NDA led by the BJP had a lot to cheer in 2025 with decisive victories in Delhi and Bihar – the two states where assembly elections were held this year. For the opposition, 2025 was a year of disappointments. While the Arvind Kejriwal-led AAP was defeated in Delhi, the Mahagathbandhan of Congress, Lalu Prasad’s RJD and the Left was decimated in Bihar. But 2026 could be an opportunity for the opposition to bounce back as four states and one Union Territory – West Bengal, Kerala, Tamil Nadu, Assam and Puducherry — will vote to choose their new assemblies. Except Assam, which is ruled by the BJP, the opposition has a dominant presence in the other three states.

With polls due between March and May 2026, parties have already begun calibrating strategies and sharpening their pitch to voters.

In West Bengal, Mamata Banerjee’s Trinamool Congress will be defending its fortress as it seeks to hold off a renewed BJP push, while the Congress and Left will make another effort to recover lost political ground.In Kerala, the CPM-led LDF is eyeing an unprecedented third consecutive term — a feat unheard of in the state’s traditional pendulum-like politics.Tamil Nadu is preparing for another round of the Dravidian duel, with the DMK and AIADMK once again anchoring the state’s political battlefield.In Assam, the BJP-led NDA under Himanta Biswa Sarma will fight to hold the state even as the Congress looks to stage a revival.Meanwhile, in Puducherry, N Rangasamy’s AINRC–BJP coalition faces the challenge of holding together a fragile alliance against a DMK seeking to widen its footprint and a weakened Congress attempting a comeback.A key undercurrent across these contests is the Special Intensive Revision (SIR) of electoral rolls, extended to several poll-bound states including West Bengal, Tamil Nadu and Puducherry. The 2026 elections will therefore unfold on updated voter lists — a factor that could change a lot of things.

West Bengal

Buoyed by its sweeping win in the recent Bihar assembly elections, the BJP has made its ambitions clear: Bengal is the saffron party’s next battleground.Ahead of the 2026 polls, the BJP is pushing hard to turn momentum into seats. Meanwhile, the TMC, which won 213 of the 294 assembly seats in 2021 with roughly 48% vote share, is back in full campaign mode, defending a fortress it has held for over a decade. With the Congress party struggling to regain its footing, the stage is set for a high-stakes political showdown.

What’s at stake?

BJP’s rising influence

From a modest presence in 2016 with just 3 seats, the BJP surged to 77 seats and approximately 38% of the vote share in 2021. The 2026 elections will test whether this was a temporary surge or the beginning of a sustained challenge to the TMC’s dominance in Bengal.

TMC’s incumbency challenge

With 213+ seats and 48% vote share in 2021, Mamata Banerjee enters 2026 as the incumbent with the widest lead. She has already begun mobilisation and outreach, but the real challenge is holding this high ceiling in the face of anti-incumbency and a more aggressive BJP than before.

Congress fights for relevance

From being a dominant force pre-2011 to being almost wiped out in 2021, Congress is now battling for visibility. Adhir Ranjan Chowdhury’s removal and Subhankar Sarkar’s appointment hasn’t yet translated into a loud political message or campaign repositioning leaving Congress still searching for footing.

INDIA bloc?

With the future of the opposition’s INDIA bloc uncertain and Mamata Banerjee repeatedly hinting that TMC will contest Bengal alone, Congress risks being caught between two compulsions: aligning nationally versus confronting TMC locally.“Bengal is ours, we will fight here alone,” the West Bengal chief minister Mamata Banerjee has already declared.

SIR factor

Additionally, the 2026 elections will be conducted under a Special Intensive Revision of electoral rolls. Changes in voter registrations, particularly in minority-heavy or urban constituencies, could significantly impact the margins in key swing seats.

Tamil Nadu

Tamil Nadu is gearing up not only for another showdown between Dravida Munnetra Kazhagam (DMK) and All India Anna Dravida Munnetra Kazhagam (AIADMK), but also for a potentially game-changing third force.The entry of TVK under Vijay has made Tamil Nadu assembly elections in the state all the more interesting.

What’s at stake?

DMK’s incumbency test

The ruling DMK enters 2026 from a position of strength, having secured 133 seats on its own in the previous assembly election. However, the party faces a tougher political landscape this time, with the AIADMK–BJP alliance regrouped and better aligned than in 2021. Tamil Nadu chief minister Stalin has already announced that the party will contest the state polls as part of the INDIA bloc, calling it an ideological partnership built on shared goals.The real test, however, lies in whether DMK can overcome anti-incumbency pressures, defend its welfare and governance record, and manage voter expectations on issues like jobs, NEET exemption and power tariffs.

AIADMK–BJP alliance

The 2026 Tamil Nadu Assembly election is a high-stakes battle for the All India Anna Dravida Munnetra Kazhagam (AIADMK), which is desperately looking for a comeback after two consecutive electoral defeats. The big question for 2026 is whether the renewed AIADMK–BJP partnership can translate into seats. In 2021, the AIADMK-led front won 75 seats, while the BJP remained a secondary force. However, together they remain the largest challenger bloc to the ruling DMK. Edappadi K. Palaniswami has already set the tone, vowing that the front will “shatter Stalin’s dream of winning 200 seats” and predicting that the alliance could cross 210.A key factor that complicates the opposition arithmetic is the entry of actor Vijay with his party, the Tamilaga Vettri Kazhagam (TVK), whose decision to contest alone threatens to split the anti-DMK vote.

TVK factor

The 2026 Tamil Nadu election is the crucial electoral debut for actor Vijay’s TVK, who has boldly declared the contest as a “TVK versus DMK” fight and positioned himself as the alternative to “Stalin uncle”. Vijay has massive youth following and has a potential surprise factor to disrupt the traditional bipolar contest. However, the tragic Karur stampede that claimed 41 lives during one of his pre-poll roadshows casts a significant negative shadow. The incident has been heavily leveraged by the opposition, forcing Vijay and the TVK to defend their competence and win public trust.

Assam

In Assam, the BJP-led NDA under the leadership of chief minister Himanta Biswa Sarma. who has become one of the party’s most prominent regional faces, will fight to hold the state, aiming to secure an unprecedented third consecutive term.

What’s at stake?

BJP’s regional dominance

Despite the 75 seats won in 2021, anti-incumbency remains a major underlying challenge. Chief minister Sarma, however, has set an aggressive target, confidently claiming the NDA is capable of winning “104 out of 126 seats”.

Congress’s revival test

The Congress, which won 50 seats in 2021, is desperate for a comeback, led by the newly appointed state chief, Gaurav Gogoi. The party is trying to leverage the “10-year anti-incumbency” against the BJP, with Gogoi stating, “After 10 years of BJP’s corrupt and authoritarian rule, the people of Assam want change.”This election is a personal test for Gogoi, who must prove he can translate his Lok Sabha victory into a wider assembly-level revival for the party.

AIUDF’s dilemma

Badruddin Ajmal’s AIUDF won 16 seats in 2021, performing strongly in Muslim-majority pockets. A breakup with Congress or a solo contest could split the opposition vote — benefiting BJP in triangular fights.

Kerala

Kerala heads into 2026 with one of the rarest scenarios in its electoral history — a ruling front attempting to win a third consecutive term. The CPI(M)-led LDF broke the state’s alternating pattern in 2021, winning 99 of 140 seats while the Congress-led UDF slipped to 41, and the BJP once again failed to open its account.

What’s at stake?

LDF’s third-term bid

The LDF has never won three consecutive assemblies in Kerala’s democratic history. For the CPI(M), which leads the front, this election is critical as Kerala remains the only major state where the Left is currently in power on its own strength. Chief minister Pinarayi Vijayan, who will again lead the front, is campaigning on the theme of “continuity for progress.” Senior CPI(M) leaders, like KN Balagopal, have publicly stated that “continuity was vital to maintain the momentum” of development and welfare policies. However, the LDF faces a significant anti-incumbency challenge, which the opposition is leveraging to counter the government’s claims of development.

UDF’s existential battle

UDF dropped from 47 seats in 2016 to 41 in 2021, still holding a sizable vote share but struggling to convert it. 2026 is the coalition’s best opportunity to regain ground if anti-incumbency builds. A weak result could push UDF further into inertia, shrinking the Congress footprint in another southern state.

BJP — still on the sidelines?

BJP has contested aggressively for two cycles but holds zero MLA seats in Kerala. If it breaks that barrier in 2026 — even with 1–3 wins — it changes the dynamics of the House. If it fails again, Kerala remains one of the last major states outside BJP’s elected footprint.

Puducherry

In Puducherry, N Rangasamy’s AINRC–BJP coalition faces the challenge of holding together a fragile alliance against a resurgent DMK seeking to widen its footprint and a weakened Congress attempting a comeback.

What’s at stake?

NDA’s fragile coalition

The ruling NDA is led by the All India NR Congress (AINRC) and BJP. In 2021, the AINRC won 10 seats and the BJP won 6 seats. This coalition is under immense pressure due to internal discord and anti-incumbency. The internal rift was brought to the forefront by the resignation of a lone Dalit minister AK Sai J Saravanan Kumar, on the decision of the high command.The move triggered strong reactions and exposed deeper fault lines within the coalition and the local BJP unit.

DMK’s attempt to expand

The DMK entered the 2021 Puducherry polls with limited ground presence but still emerged with 6 seats, overtaking the Congress to become the largest opposition party. For 2026, the main challenge for DMK would be to widen its footprint in the Union territory and convert influence into numbers.

Congress — survival, not dominance

Like in many other states, the Congress is fighting for survival in Puducherry too. Once the ruling party here, it has slipped to the margins since the 2021 election. For Congress, 2026 is not about winning power; it is about preventing irrelevance. A tally of 5–6 seats keeps it alive; anything below that accelerates decline. The grand old party must survive before it can compete.The Election Commission’s SIR of electoral rolls has already raised the pitch in these states, with the BJP strongly backing the exercise while the opposition accusing the poll body of helping the saffron party gain an advantage over its political opponents. 2026 is clearly all set for interesting electoral contests.

NAMRUP: Prime Minister Narendra Modi on Sunday laid the foundation stone of a Rs 10,601-crore brownfield ammonia-urea plant in Dibrugarh district of Assam, and asserted that it would usher in a new chapter of industrial progress in the region.The facility – Assam Valley Fertiliser and Chemical Company Ltd (AVFCCL) – will have an annual urea production capacity of 12.7 lakh metric tonnes and the project is scheduled for commissioning in 2030.The PM, on the last day of his two-day Assam visit, laid the foundation stone of the plant here, located within the existing premises of the Brahmaputra Valley Fertiliser Corp Ltd (BVFCL).After unveiling the project, Modi addressed a public rally, where he criticised the Congress for allegedly not modernising technology at fertiliser plants, and not doing enough to protect the interests of the farmer community.Noting that it is a historic day for Assam and the entire northeast, he said the long-awaited dream of Namrup and Dibrugarh has been fulfilled, as a new chapter of industrial progress begins in the region.“Around Rs 11,000 crore will be invested in the fertiliser project, which will produce more than 12 lakh metric tonnes of fertiliser annually. With production taking place locally, supply will be faster and logistic costs will be reduced,” the PM said.Emphasising that the Namrup plant will generate thousands of new opportunities for recruitment and self-employment, he said that associated work such as repair, supply and other related activities will also provide jobs to the youth.“The Namrup fertiliser plant in Assam will become the epitome of the country’s industrial growth. It is sad that the Congress did not make efforts to modernise the plant, and find solutions to problems faced by farmers,” he said.He said that Namrup had long been a centre of fertiliser production, and at one time, the fertiliser produced here strengthened the fields of the northeast and supported farmers’ crops.“Even when fertiliser supply was a challenge in many parts of the country, Namrup remained a source of hope for farmers. However, the technology of the old plants became outdated over time and the Congress government paid no attention,” Modi alleged.As a result, several units of the Namrup facility were “shut down, leaving farmers across the northeast distressed”, and their incomes hurt, he said.“Among various agricultural welfare initiatives, it is essential to ensure a continuous supply of fertiliser to our farmers. This urea factory will fulfill that need,” the Prime Minister said.Modi said India will progress only if farmers prosper, and the BJP government has introduced several schemes to uplift them.“Many fertiliser factories were closed during the Congress rule, but when we came to power, the BJP government established several new plants throughout the country,” he said.The PM also said that the Centre’s palm oil mission will make the northeast self-sufficient in edible oil, and increase farmers’ income in the coming days.Highlighting several farmer-centric measures, he said that urea output in the country has been increased to 306 lakh metric tonnes from 225 lakh metric tonnes in 2014.“India needs 380 lakh metric tonnes annually. We are moving towards eliminating this gap. The fertiliser that we import, we give subsidies on it so that our farmers do not feel the burden,” Modi said.He, however, cautioned farmers against spraying urea uncontrollably to get higher yields, as it affects the soil quality.“We need to protect our mother earth. If we care and protect it, only then will it give us the fruits,” Modi said.“Funds are being directly transferred to bank accounts so that farmers do not have to wander for loans. So far, around Rs 4 lakh crore has been transferred to farmers’ accounts under the PM Kisan Samman Nidhi,” the PM said.Modi said that earlier, farmers had to wait in long queues for urea, with police personnel often deployed at distribution centres, who sometimes resorted to lathicharge to maintain order.“What the Congress government neglected, our government is committed to rebuilding with full dedication,” he asserted.In July this year, AVFCCL was incorporated at Namrup in Dibrugarh. The project was approved by the Union Cabinet in March this year.AVFCCL is a joint venture among the Assam government, Oil India, National Fertilisers Ltd (NFL), Hindustan Urvarak & Rasayan Ltd (HURL) and BVFCL.“The AVFCCL Namrup ammonia-urea project is being established as a modern, energy-efficient, world-class fertiliser complex with an annual urea production capacity of 12.7 lakh metric tonnes, at an estimated investment of Rs 10,601 crore,” the company said in a statement.It said this upcoming facility will play a pivotal role in meeting the fertiliser requirement of Assam, the northeast region, West Bengal, Bihar, Jharkhand and eastern Uttar Pradesh.“Beyond fertiliser security, the project is expected to act as a major catalyst for industrial growth, employment generation and regional economic development, creating hundreds of direct jobs and thousands of indirect employment opportunities,” AVFCCL said.

NEW DELHI: As another week of December begins, stock markets will also invoke hopes for investors but also caution. Foreign investors, currency movement and global macroeconomic data announcements will drive investor sentiments for the week. Notably, this week will not have the usual five days of trading as Thursday, December 25 will mark a stock market holiday on account of Christmas. This will be significant as it’s the last complete week ending in 2025. However, an expert quoted by PTI said that market activity could be subdued on account of Christmas and New Year.“This week marks the onset of the year-end festive period and will be holiday-shortened due to the Christmas break, which may keep trading volumes subdued. On the domestic front, markets will track infrastructure output data, along with updates on bank loan growth, deposit growth, and foreign exchange reserves. Currency movement and crude oil prices will also remain important variables,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.Meanwhile, Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm was quoted by PTI saying, “While strong domestic liquidity continues to act as an effective buffer against deeper downside risks, lending resilience to the market structure, the re-emergence of foreign fund inflows is increasingly being viewed as a potential catalyst for the market’s next leg higher, improving overall risk appetite.”Further talking about international factors, he added, “Globally, performance of major markets—particularly the US—will be closely monitored for directional cues.” That said, the durability of the late-week momentum will largely depend on key global macroeconomic indicators, especially the forthcoming US GDP and core personal consumption expenditure (PCE) data, which are expected to provide clearer insights into the health of the US economy amid shifting inflation–growth dynamics, according to Ponmudi R.Last week, the BSE benchmark fell by 338.3 points, or 0.39 per cent, while the Nifty declined by 80.55 points, or 0.30 per cent. Meanwhile, on Friday, the Sensex surged 447.55 points, or 0.53 per cent, to close at 84,929.36, while Nifty advanced 150.85 points, or 0.58 per cent, to end at 25,966.40. “Selling pressure dominated most sessions; however, a recovery in the final trading day—driven by value buying and renewed interest from foreign portfolio investors (FPIs)—helped limit the downside.” Mishra added.Also sharing his insights, Siddhartha Khemka, Head of Research – Wealth Management, Motilal Oswal Financial Services Ltd, said, “This week, we expect markets to trade in a range with a positive bias, following signs of improving FII participation (buying in two continuous trading sessions offering some relief after weeks of relentless selling) and a marginal recovery in INR vs USD. Several global markets will see subdued activity on account of Christmas and New Year holidays.“Key macro data releases during the week include US and UK GDP, US consumer confidence data. Overall, market is likely to remain sideways, with investor focus gradually shifting towards the upcoming Q3 corporate earnings season,” he added.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)

The combined market capitalisation of six of India’s ten most-valued companies rose by Rs 75,256.97 crore over the past week, even as the broader equity market closed lower. Tata Consultancy Services (TCS) and Infosys led the gains among the top firms. During the week, the BSE benchmark index slipped 338.3 points, or 0.39 per cent. Despite the decline, several heavyweight stocks saw an increase in their valuations. Reliance Industries, Bharti Airtel, Tata Consultancy Services, State Bank of India, Infosys and Larsen & Toubro ended the week with higher market capitalisation. In contrast, HDFC Bank, ICICI Bank, Bajaj Finance and Life Insurance Corporation of India (LIC) recorded a fall in their valuations. Tata Consultancy Services saw its market value surge by Rs 22,594.96 crore, taking its total valuation to Rs 11,87,673.41 crore. Infosys followed with an increase of Rs 16,971.64 crore, pushing its market capitalisation to Rs 6,81,192.22 crore. State Bank of India added Rs 15,922.81 crore to reach a valuation of Rs 9,04,738.98 crore, while Reliance Industries’ market capitalisation rose by Rs 12,314.55 crore to Rs 21,17,967.29 crore. Bharti Airtel’s valuation climbed Rs 7,384.23 crore to Rs 11,95,332.34 crore. Larsen & Toubro also saw a marginal increase, with its market capitalisation rising by Rs 68.78 crore to Rs 5,60,439.16 crore. On the other hand, HDFC Bank witnessed the sharpest decline, with its market value falling by Rs 21,920.08 crore to Rs 15,16,638.63 crore. LIC’s valuation slipped by Rs 9,614 crore to Rs 5,39,206.05 crore. ICICI Bank’s market capitalisation declined by Rs 8,427.61 crore to Rs 9,68,240.54 crore, while Bajaj Finance saw its valuation dip by Rs 5,880.25 crore to Rs 6,27,226.44 crore. Reliance Industries continued to hold the position of the most-valued company, followed by HDFC Bank, Bharti Airtel, Tata Consultancy Services, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and LIC.