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GDP at 7-quarter low, markets rebound, Sambhal case, Raj Kundra ED case & more

GDP at 7-quarter low, markets rebound, Sambhal case, Raj Kundra ED case & more

India’s GDP growth for the September quarter dropped to 5.4%, the lowest since Q3FY23 - a sharp fall from 8.1% in the same period last year and 6.7% in the June quarter. The economy underperformed expectations, plunging to a near two-year low. The NIFTY50 and Sensex, on the other hand, rebounded after yesterday’s crash, rising over 1% during the market hours, buoyed by buying interest in auto, pharma, energy, and infrastructure stocks. The Supreme Court today asked the Sambhal Civil Court to suspend its proceedings in the mosque survey case till the mosque panel filed its plea in the Allahabad High Court. The ministry of external affairs urged the Bangladesh government to ensure the protection of minorities in the country. It said the recent incidents cannot be dismissed as media exaggeration. The ED conducted raids at 15 locations in Mumbai and UP, including businessman Raj Kundra's, as part of a money laundering case linked to alleged distribution of pornographic content.

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