(MENAFN- Live Mint) Top news, Dec 26: From Sensex and the Nifty 50 closing flat on Thursday to distorted J and K map, Budget 2025, penalty on Virat Kohli, Azerbaijan plane crash, Anna University rape, Indian Economy to grow around 6.5% in FY 2025 and more.
Sensex, Nifty 50 end flat
Sensex opened at 78,557.28 against its previous close of 78,472.87 and touched its intraday high and low of 78,898.37 and 78,173.38, respectively. The 30-share pack finally closed flat at 78,472.48.
The Nifty 50 opened at 23,775.80 against its previous close of 23,727.65 and hit its intraday high and low of 23,854.50 and 23,653.60, respectively. The index settled at 23,750.20, up 23 points, or 0.10 per cent, on the expiry day of December futures and options (F&O) contracts.
BSE Midcap index rose 0.11 per cent, outperforming the benchmark Sensex. However, the BSE Smallcap index declined 0.24 per cent.
Budget 2025
India is considering cutting income tax for individuals making up to 1.5 million rupees ($17,590) a year in February's budget to provide relief to the middle class and boost consumption as the economy slows, two government sources told Reuters.
The move could benefit tens of millions of taxpayers, especially city dwellers burdened by high living costs, if they opt for a 2020 tax system that strips exemptions like housing rentals.
Indian economy to grow around 6.5% in FY25
India's economy is expected to grow at around 6.5% in fiscal year 2024/25, closer to the lower end of its 6.5%-7% projection, as global uncertainties pose a dampening threat, the government said on Thursday.
The growth outlook for October to December appears bright, with rural demand remaining resilient and urban demand picking up in the first two months of the quarter, according to the finance ministry's monthly economic report for November.
Azerbaijan plane crash
Several theories about the possible reasons for the deadly Azerbaijan Airlines plane crash were doing the rounds on Thursday. As many as 38 people were reportedly killed in the plane crash near Kazakhstan's Aktau city on Wednesday. Meanwhile, the Kazakh Ministry of Emergency Situations reported,“29 survivors, including three children, have been hospitalised.”
The Azerbaijan Airlines plane, carrying 62 passengers and five crew members on board, crashed after being forced to make an emergency landing about three kilometres from Aktau. The Embraer 190 aircraft was en route from Azerbaijan's capital, Baku, to Grozny, a Russian city in the North Caucasus.
Israel-Gaza war
Almost a year after the Israel-Gaza war , the Palestinian enclave's health ministry said that Israel's military offensive in the Gaza Strip has killed at least 45,399 Palestinians and wounded 107,940 since 7 October 2023, reported the Reuters.
Apart from that, the Health Ministry on Thursday stated that 38 people had been killed in the Palestinian territory in the past 24 hours.
Chennai Anna University rape
The alleged sexual assault on a second-year engineering student of Chennai's Anna University on campus on December 23 and the arrest of a roadside biryani vendor, Gnanasekaran, in the case, have prompted the BJP and the AIADMK to target Tamil Nadu's ruling DMK, reported Indian Express.
According to the report, the Opposition claimed that the accused had links to Chief Minister MK Stalin's party. The DMK has denied this allegation.
'Distorted' map of J&K
The two-day Congress Working Committee (CEC) session in Belagavi, Karnataka is caught in a 'distorted' map row with Bharatiya Janata Party (CWC) accusing the grand old party of using 'incorrect' map of India in posters of the mega event. Congress is in power in Karnataka.
In the map, a part of Jammu and Kashmir has been shown in Pakistan . The BJP reacted strongly and accused Congress of doing appeasement politics.
Virat Kohli gets ICC sanction
Virat Kohli has been fined 20 percent of his match fees by the International Cricket Council (ICC) and awarded one demerit point for breaching Level 1 of the ICC Code of Conduct after his shoulder-bumping incident with Sam Konstas on Day 1 of the India vs Australia fourth Test at the Melbourne Cricket Ground (MCG), the global cricketing body announced on Thursday.
Following stumps on Day 1, Kohli accepted the sanctions as no formal hearing was needed.
OnePlus 13 series India launch
After building up the suspense for its flagship OnePlus 13 series , the company has finally confirmed that the two premium phones; OnePlus 13 and OnePlus 13 will be making their debut in India soon. While OnePlus 13 has already made its debut in China, the 13R will first be launched in India.
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