July 26, 2024: Sensex rebounds, Obamas endorse Kamala Harris, France railway network attacked, forex reserves hit high.

On Friday, July 26, several significant events unfolded globally, impacting markets, politics, and international security.

Stock Market Rebounds

The stock market experienced a strong recovery, snapping a five-day losing streak. The 30-share BSE Sensex surged by 1,293 points or 1.62%, closing at 81,332.72, marking its best weekly gains in 14 years. The NSE Nifty 50 also jumped 428.75 points or 1.76%, reaching an all-time high of 24,834.85. Key players like Infosys, Bharti Airtel, and Reliance Industries led this recovery amid positive global market cues.

Obamas Endorse Kamala Harris

In a significant political development, former President Barack Obama and former First Lady Michelle Obama endorsed Vice President Kamala Harris for the Democratic presidential nomination. This endorsement bolsters Harris' candidacy amid the ongoing US Presidential elections. On the same day, Israeli Prime Minister Benjamin Netanyahu met with Harris in the US, discussing efforts to end the Israel-Hamas conflict and address the issue of hostages in Gaza.

French Railways Attacked Ahead of Paris Olympics

France's railway network faced major disruptions due to a series of coordinated arson attacks, causing cancellations and delays. These attacks, targeting the main routes to Paris, were aimed at disrupting travel ahead of the Paris Olympics. Outgoing Prime Minister Gabriel Attal reported that the sabotage would have "huge and serious consequences" for the rail network, affecting around 800,000 passengers over the weekend.

Forex Reserves Hit Record High

The Reserve Bank of India reported a new record high in foreign exchange reserves. As of July 19, foreign currency assets increased by $2.578 billion, bringing the total to $588.048 billion. This follows a previous high recorded last week, when overall reserves surged by $9.699 billion to $666.854 billion.