The Economic Times

Around 20 National Conference (NC) MLAs are seeking changes in the party structure and the removal of some office-bearers, triggering an internal crisis following Chief Minister Omar Abdullahs recent cabinet expansion. Senior MLA Abdul Majid Larmi said the party needs a cleansing process to remove people who have hijacked it, adding that the move is aimed at strengthening the organisation and is not a rebellion.

BJP national president Nitin Nabin will lead major marches in Bihar and West Bengal on Monday. This is part of the party's ongoing 'Loktantra Bachao, Arajakta Hatao' campaign against the opposition's claims. Nabin's marches aim to counter alleged misinformation and anarchy disseminated by the opposition bloc. The BJP believes that every party worker will help clarify the opposition's false narratives.

The Winter Action Plan kicked off successfully in Delhi, with enforcement teams collecting fines of Rs 68.4 lakh on day one. A total of 14,930 vehicles underwent inspection, with 1,539 turned back and 566 challans issued for pollution discrepancies. In their efforts to mitigate dust pollution, officials examined 300 construction sites, resulting in Rs 9.8 lakh levied for infractions.

Delhi is facing poor air quality with the Air Quality Index ranging from hazardous to severe. Several areas, including Akshardham Temple and ITO, recorded AQI values in the 'Very Poor' category. Enforcement teams are actively checking vehicles and inspecting construction sites to mitigate pollution. The Delhi Traffic Police have intensified restrictions under the Graded Response Action Plan to control the situation.

China's central bank has implemented a major alteration to its monetary policy by establishing an overnight lending rate, which injects substantial liquidity into the banking sector. This initiative seeks to alleviate costs for financial entities and stimulate economic growth in light of increased credit risks. Experts estimate this change could lower interest rates by 15 basis points, thereby maintaining profitability among financial institutions.

Iran's Islamic Revolutionary Guard Corps reported that two oil tankers exploded in the Strait of Hormuz after striking naval mines. Both vessels allegedly ignored warnings about using restricted routes and had switched off their navigation systems. The UK Maritime Trade Operations issued a warning about an incident in the same area involving a merchant vessel.

In the Nifty500 pack, six stocks' closing prices crossed above their 200-day moving averages (DMA) on October 30, 2026, according to StockEdge's technical scan data. The 200-day moving average (DMA) is used by traders as a key indicator for determining the overall trend of a stock. As long as a stock's price remains above its 200-day moving average on the daily timeframe, it is generally interpreted as being in an overall uptrend.

India and France are advancing their defence relationship with proposals for new fighter aircraft and submarines. The two nations are collaborating on advanced technologies and strategic partnerships essential for regional security. As the global security landscape evolves, India aims to enhance ties with trusted allies like France. The Horizon 2047 Roadmap outlines a vision for future cooperation across various sectors.

Weather today, November 2: IMD has warned of heavy to extremely heavy rainfall in Andhra Pradesh, Telangana and Tamil Nadu on November 2 as Cyclone Murasu intensifies and approaches the coast. While several states face rain and strong winds, Delhi-NCR is expected to remain dry, even as air quality readings across the region remain in the hazardous category.

A trade investigation into Vietnam's intellectual property practices is nearing a conclusion with a November 29 deadline. Various industries have conflicting views on whether new tariffs should be imposed on Vietnamese goods. Tesla and Samsung are against additional tariffs, while steel and wood sectors advocate for penalties. Vietnam has faced escalating exports to the US, surpassing its previous trade standings.

During a recent campaign rally in Iowa, Trump emphasized that the US also spies on China and Russia. He reassured attendees that the US performs these operations more effectively than its adversaries. This statement coincided with recent scrutiny of Chinese intelligence efforts targeting US military personnel. Two Chinese nationals had recently received prison sentences for acting as agents of the Chinese government in the US.

Israeli Prime Minister Benjamin Netanyahu urged US President Donald Trump to conduct military strikes against Iran after the elections. The two leaders recently discussed US negotiations with Iran during a phone call described differently by their respective sources. Trump indicated a desire to continue pursuing diplomatic solutions while being prepared for potential military action. US Vice President JD Vance reached out to Iran's national security chief regarding restarting negotiations.

Reliance Industries has reported a significant growth in revenue and profits for the September quarter. The oil-to-chemicals segment has led this growth while retail segment profitability faced pressures from digital commerce investments. Jio Platforms also reported double digit revenue and profit growth, aided by increased average revenue per user and subscriber additions. Rising inflation and a shift in festive demand to the December quarter may impact future retail earnings.

Canadian Prime Minister Mark Carney reported a productive discussion regarding a potential trade deal with U.S. President Donald Trump. The conversation aimed to create jobs, lower family costs, and protect Canadian sovereignty. Negotiators from both sides will continue working over the coming weeks toward an agreement. Trade relations remain tense as discussions include U.S. tariffs on Canadian steel and automobiles.

In November, investors are optimistic about Indian equities due to ongoing festive celebrations and better-than-expected corporate earnings. While the Sensex and Nifty boasted gains in October, other market indices saw declines. However, potential threats such as rising crude oil prices and global uncertainties remain. A noticeable surge in purchases by foreign portfolio investors signals renewed interest in Indian stocks.

Concerns about negative cash flow and the sheer scale of AI capex saw the cost of insuring against corporate defaults blow out last week, while gold hit a one-year low amid talk stressed investors were selling to raise money for margin calls.

Foreign portfolio investors reduced their selling of Indian government securities and equities in October compared to September. Despite this, high oil prices and global yields pose challenges for sustained portfolio inflows. Economists caution that the slowdown may not indicate a definitive change in foreign investment trends. Political dynamics in other emerging markets might influence foreign capital movement toward India.

A business jet crashed in Greenacres, Florida, resulting in the deaths of all nine individuals on board. The aircraft was en route to the Bahamas from Austin-Bergstrom International Airport in Texas while encountering severe turbulence and icing conditions. Minutes before the crash, the pilot reported an emergency and rapid descent. Authorities have evacuated a nearby mobile home community as federal investigators begin their inquiries.

Foreign portfolio investors have shifted from aggressive selling to net buying of Indian equities recently. They invested nearly $1.2 billion over the last ten trading sessions, particularly in large-cap stocks. This change in behavior may be attributed to concerns regarding the artificial intelligence trade influencing investor decisions. Globally, markets saw corrections, while Indian indices had a mixed performance in October.

Nifty has recently surged by nearly 2%, approaching the resistance level at 23,200. Analysts recommend building long positions to capitalize on a potential breakout. Support is set between 22,600 and 22,800, serving as a buffer. Recommended stocks for investment this week include DLF and Zensar Technologies. Investors should exercise caution in the broader market until significant resistance levels are broken.

India's GST collections in October reached 2.31 lakh crore, reflecting a 22.9% year-on-year increase. Strong consumption trends are indicated by rising passenger car sales and record digital payments. Power consumption also surged nearly 22% compared to last year, further emphasizing economic strength. Despite a high inflation rate of 5.5%, demand has remained robust, supporting growth forecasts. Analysts suggest this growth aligns with leading indicators of a consumption-driven economy.

Wall Street today: U.S. war with Iran has been ongoing since February and has essentially shut down the vital Strait of Hormuz.

Bahamas-bound jet departed from Austin-Bergstrom International Airport in Texas.

Chris Murphy is considered a contender for more senior leadership positions in the Senate and among the many Democrats seen as potential 2028 candidates for the White House.

Rahul Gandhi accused Narendra Modi of coming to power through unlawful means during a recent rally in Delhi. The opposition leaders, including Akhilesh Yadav and Mamata Banerjee, called for unity against the ruling government. They stressed the need for legal action against electoral malpractice while advocating for the rights of farmers and students. The leaders alleged that the 2024 elections would be illegal due to voter deletions.

Social security projected benefit cuts 2032: At that time the fund's projected income will be sufficient to pay just 78 per cent of scheduled benefits, indicating beneficiaries will see a 22 per cent cut in monthly Social Security retirement income.

BJP organized a series of rallies nationwide to counter the opposition's recent event in Delhi. Party leaders accused Congress of choosing an inappropriate date for their rally, which coincided with a significant tragedy. BJP's Sambit Patra criticized the actual turnout at the Congress rally, citing empty seats and vacant spaces. Union ministers and party officials led marches in various states as a show of strength.

People across India are protesting peacefully, contrasting with violent agitations seen in other countries. The 'one nation, multiple elections' framework allows diverse political benefits to be shared among parties. This electoral model keeps governments accountable and responsive to public needs. Elections help to channel frustrations and enable citizens to express their concerns. As a result, the political landscape remains dynamic and participatory, fostering a sense of empowerment.

Prime Minister Narendra Modi is scheduled to meet the new leadership of Niti Aayog on November 5. This meeting aims to establish budget priorities amidst global uncertainty and economic growth challenges. The focus will be on enhancing domestic manufacturing and creating employment opportunities. Experts from various sectors will provide insights related to India's development objectives.

LeBron James delivered an outstanding performance for the Philadelphia 76ers against the New York Knicks. He contributed significantly in a close game, scoring key points and helping seal the victory. Despite Joel Embiid's struggles, Tyrese Maxeys strong play complemented James perfectly, showcasing the team's depth. The Sixers continue their successful season with impressive early wins, including victories against last year's champions.

Kylian Mbapp moved past a difficult week by scoring a crucial penalty for Real Madrid. He helped his team win 3-0 against Racing Santander on Sunday. Prior to this match, he narrowly missed winning the Ballon d'Or to Harry Kane. Following the award announcement, he issued an apology for a social media video. The video contained a joke about former Chinese leader Mao Zedong, which stirred controversy.

Harry Kane had a disappointing game for Bayern Munich against Dortmund despite the pre-game celebrations. He missed a penalty during the match, hitting the crossbar instead of scoring. Kane did manage to assist one goal and was active throughout the game. This draw kept both teams level on points at the top of the Bundesliga. Despite the outcome, Kane remains a key player for his team.

Fears of World War III are growing amid rising tensions between the US and Iran, with President Donald Trump abruptly cancelling his scheduled campaign events over the weekend. The developments have raised questions about whether the conflict could escalate and whether American civilians could eventually be called up for military service.

PV Sindhu and Lakshya Sen achieved significant victories in the Hylo Open Super 500 badminton tournament finals. Sindhu claimed the women's singles title with a decisive win over Line Hjmark Kjrsfeldt. Her victory was completed in 39 minutes, showcasing her exceptional playing skills. Later, Lakshya Sen triumphed in the men's singles final against Jonatan Christie. Together, they secured a memorable title win for India.

The Enforcement Directorate has registered an ECIR against Essel Group chairman Subhash Chandra in an alleged Rs 1,322 crore loan fraud involving LIC Housing Finance. The move follows a CBI FIR over two loan facilities worth Rs 980 crore sanctioned to Essel Group-linked companies in 2018. Zee Entertainment said the case does not affect its operations.

Vikram Misri indicated that international condemnation impacted China's approach to the Covid-19 pandemic effectively. He noted that China perceived itself as being unfairly blamed for the outbreak. Misri explained how returning to China involved a strict 21-day quarantine during the pandemic period. The restrictions further complicated diplomatic relations, especially during the Galwan clash in 2020. China's response also affected global supply chains, creating challenges for various countries,

A setback could derail Donald Trump's agenda in the Congress. While economic growth data is flashing green, energy inflation and the domestic impact of tariffs could be dampeners.

Offshore crypto cards that allow Indian residents to spend digital assets on domestic purchases and withdraw cash have come under the scrutiny of the RBI and Financial Intelligence Unit. Several users have reported card deactivations in recent days, while authorities are understood to be examining potential violations of payment regulations and FEMA.

Independent MLCs Bansidhar Brijwasi and Rahul Raj joined BJP, leading to accusations of violating constitutional provisions. Opposition leaders claim this action breaches the Tenth Schedule and Article 191(2). RJD plans to seek disqualification of the two MLCs from the Bihar Legislative Council. Brijwasi later clarified that he only extended support to BJP rather than officially joining.

The CBI has secured the extradition of Sourabh Chandrakar, promoter of the Mahadev online betting syndicate, from Oman. Wanted in two CBI cases and an Enforcement Directorate investigation, Chandrakar is expected to be produced before a special court in Raipur on November 2, after completing transit formalities.

Singapore-headquartered Ascentium is looking to expand its India presence through acquisitions as it builds an Asia-focused global corporate services business. Backed by Hillhouse Investment, the firm has completed seven acquisitions in India since 2019 and is negotiating another, with plans to consolidate specialist firms and challenge established players in the market.

RSS has expressed concerns regarding the University Grants Commission's anti-discrimination regulations, stating that they are unbalanced. The government is being urged to revise the framework to maintain social harmony. As the Supreme Court intervened, the UGC regulations were temporarily stayed, allowing the previous framework to continue. The RSS emphasised the need for balanced decisions that would foster societal strength and cohesion.

Uttar Pradesh BJP will conduct padyatras across six regions as part of their campaign. Senior leaders, including Nitin Nabin and Yogi Adityanath, are scheduled to lead these marches. The padyatras will take place from November 3 to November 5 in various cities like Lucknow and Gorakhpur. The party aims to involve civil society to convey its message regarding opposition protests.

The bodies of two Kuki youths who went missing from Taphou Kuki village in Manipur's Kangpokpi district on October 28 were recovered by joint security teams in neighbouring Senapati district on Sunday. The discovery triggered fresh tensions, with protesters alleging abduction and murder by Naga militants and refusing to accept the bodies.

Air Chief Marshal Ashutosh Dixit has prioritised indigenous platforms like the light combat aircraft and advanced multirole combat aircraft. He stated the Indian Air Force will focus on Indian solutions for sustained operations. The first LCA Mk1a fighter jets are expected to be inducted this year, addressing previous delays. Additionally, the air force plans to acquire 114 additional Rafale jets soon.