💹 Economy & Policy
• Indians spent $11 billion on gold this Diwali, marking record festive demand and strengthening retail consumption sentiment.
• India’s power demand is expected to grow 4–4.5% in FY26, supported by industrial activity and higher residential consumption, says ICRA.
• Natural gas demand likely to contract in 2025, as high LNG prices and supply constraints limit usage growth.
• Centre exploring PSU bank mergers and privatization to improve operational efficiency and boost capital productivity.
📈 Equity Markets & Energy
• India’s U.S. crude oil imports surged to 540,000 barrels per day, the highest since 2022, amid pressure to curb Russian purchases.
• Government refiners are turning to smaller oil suppliers after U.S. sanctions on Rosneft and Lukoil.
• Crude oil prices held firm near $66/barrel (Brent) on steady Asian demand and geopolitical tensions.
🏦 Companies & Tech
• The gold rally added ₹3.24 lakh crore to Indian households’ net worth, reflecting strong wealth appreciation from bullion investments.
• OpenAI launched “ChatGPT Go” free in India from Nov 4, a limited-time initiative to broaden AI access and adoption.
• Elon Musk’s “Grokipedia,” an AI-driven Wikipedia rival, went live, offering conversational, real-time knowledge updates through Grok AI.
🌏 Global & Commodities
• Gold prices stabilized after last week’s steep swings, supported by festive demand and easing global yields.
• Energy markets remained cautious, with U.S.–Russia tensions offset by a positive global growth outlook.