US President Joe Biden on Saturday paid heartfelt tributes to former Prime Minister Dr Manmohan Singh, describing him as a "true statesman," a "kind and humble person," and a "dedicated public servant."

Dr Singh, who served as India's 14th Prime Minister and was widely regarded as one of the nation's most distinguished economists, passed away on Thursday night at the age of 92 at the All India Institute of Medical Sciences (AIIMS) in New Delhi.

Acknowledged as the 'Architect of India's economic reforms,' Dr Singh led the Congress-led United Progressive Alliance (UPA) government as Prime Minister for two consecutive terms from 2004 to 2014, leaving a lasting legacy on India's economic and diplomatic landscape.

In an official statement issued by the White House, President Biden said, "Jill and I join the people of India in grieving the loss of former Indian Prime Minister Manmohan Singh."

The domestic benchmark indices ended with gains on Friday as buying was seen in pharma, auto, IT, financial service, FMCG, media, and private bank sectors on Nifty.

Sensex ended at 78,699.07, up by 226.59 points or 0.29 per cent and Nifty settled at 23,813.40, up by 63.20 points or 0.27 per cent.

Nifty Bank ended at 51,311.30, up by 140.60 points, or 0.27 per cent. The Nifty Midcap 100 index closed at 56,979.80 after dropping 145.90 points, or 0.26 per cent, while the Nifty Smallcap 100 index closed at 18,755.85, after rising 27.20 points, or 0.15 per cent.

On the Bombay Stock Exchange (BSE), 1,946 shares ended in green and 2,026 shares in red, whereas there was no change in 115 shares.

According to experts, "The Christmas week trading ended on a subdued note; a lack of major triggers and caution ahead of the swearing in of the US Republican Party administration continued to impact the sentiment."

Public sector power giant NTPC Ltd. Adani Group flagship Adani Enterprises Ltd, and government-owned Punjab National Bank Ltd are among the seven companies that are expected to see strong net passive inflows to the tune of $187 million due to the rejig of the NSE indices which kick in on December 30, according to a report released by Nuvama Institutional Equities.

The state-owned NTPC is set to see an inflow of $74 million, followed by Punjab National Bank, and IndusInd Bank with $25 million and $23 million, respectively. Federal Bank Ltd. is expected to see an inflow of $18 million while Bank of Baroda Ltd is set for $17 million inflows.

India dominated the initial public offering (IPO) market in the Asia-Pacific region with over 200 companies going for public issues in 2024, according to a report on Friday.

However, China saw a sharp drop in the number of IPOs by 51.3 per cent, impacted by tightened regulations. The country saw the launch of 64 IPOs raising just over $5.2 billion.

India’s IPO market hit a bull run this year, with proceeds skyrocketing to $11.2 billion — more than doubling the $5.5 billion raised in 2023, said GlobalData, a leading data and analytics company.

“The pipeline for 2025 promises even bigger fireworks, fuelled by skyrocketing retail participation, hefty domestic inflows, and foreign portfolio investors (FPIs) flexing their muscles despite being net sellers in the secondary market,” said Murthy Grandhi, company profiles analyst at GlobalData.

The Indian stock market opened on a high note on Friday amid mixed global cues as buying was seen in the auto, PSU bank, financial service pharma, FMCG and metal sectors on Nifty.

At around 9:30 am, Sensex was trading at 78,810.40 after gaining 337.92 points or 0.43 per cent, while the Nifty was trading at 23,859 after gaining 108.80 points or 0.46 per cent.

The market trend remained positive. On the National Stock Exchange (NSE), 1,400 stocks were trading in green, while 503 stocks were in red.

According to experts, "as the nation pays homage to Manmohan Singh, the architect of liberalisation in India, investors must be acknowledging with gratitude the wealth created by the Indian stock market after the initiation of liberalisation in 1991."

The Central government on Friday announced seven days of national mourning as a mark of respect to former Prime Minister Manmohan Singh who died at the age of 92 here on Thursday.

A notification from the Ministry of Home Affairs issued to the chief secretaries of all the states and Union Territories stated that in view of the demise of the former Prime Minister and as a mark of respect, seven days of mourning would be observed throughout India till January 1, 2025.

The last rites of the former Prime Minister will be conducted with full State honours, the statement said.

According to the notification all government programmes scheduled for Friday were cancelled.

Raghav Chadha expressed his condolences on passing away of Former Prime Minister Dr. Manmohan Singh Ji. He tweeted on X, "A world-renowned economist and the architect behind the liberalization of the Indian economy, Dr Manmohan Singh Ji steered India through difficult

Ayodhya is set to witness a grand celebration on January 11, 2025, marking the first anniversary of the "Prana Pratishtha of the Ram Lalla" (the first anniversary of the consecration of the Ram Lalla idol) at the Shri Ram Janmabhoomi Mandir.

The occasion, known as Pratishtha Dwadashi, will bring together devotees from across the country for a day filled with sacred rituals, music, and cultural programmes.

This information was shared by Shri Ram Janmbhoomi Teerth Kshetra on its X account.

According to the information, the temple complex will host a series of spiritually uplifting events, offering a chance for devotees to connect with Lord Ram through prayer, chanting, and celebration.

Here's a look at the key highlights of the day:

India has strengthened its leadership in the export of labour-intensive agricultural and allied products while expanding into new areas such as electronics goods.

During April-October 2024, the agricultural and allied products exports shot up to $27.84 billion from $26.90 billion in April-October 2023, according to a year-end review of the Commerce and Industry Ministry.

Exports of spices have jumped from $2.4 billion in 2013-14 to $4.2 billion in 2023-24. During April-October 2024, spice exports registered a robust 10 per cent increase to $2.47 billion from $2.24 billion in the same period of the previous year.

Basmati rice exports increased from $4.8 billion to $5.8 billion, and non-basmati rice exports from $2.9 billion to $4.6 billion. In April-October 2024, the exports of basmati rice were $3.38 billion as compared to April-October 2023 when they were $2.96 billion, registering a growth of 14.28 per cent.

India’s equity markets soared to record highs, firmly establishing the nation with a market capitalisation of $5.29 trillion this year, which was the fourth largest market cap globally after the US, China and Japan, a report said on Thursday.

Benchmark indices Nifty and Sensex hit all-time highs of 26,277.35 and 85,978.25, respectively, this year, according to the report by Pantomath Group, a leading financial services conglomerate.

GDP growth stood at 8.2 per cent in FY24, surpassing expectations, although inflation and weak consumption slowed growth in first half of FY25.

“A rebound is anticipated, driven by government spending, private investments, and rural growth revival,” the report mentioned.

According to Madhu Lunawat, CIO and Fund Manager, Bharat Value Fund, there are many opportunities available for both domestic and global investors such as AIF, PMS, Mutual Funds, etc. for medium-term investments perspectives, to participate in India's long term growth story.