Prime Minister Narendra Modi’s quick phone call with US President Donald Trump helped set the diplomatic mood today, with both leaders backing a push to deepen trade, tech and defence ties and promising to work together on shared global challenges. The call came even as a US trade team was in Delhi for ongoing discussions.

Back home, the markets finally caught a break. After three straight days in the red, the Sensex and Nifty bounced back smartly, with all major indices closing higher. Equity mutual fund inflows were up 21% in November and SIP flows stayed at record levels. The weak spot: the rupee, which slipped to yet another record low against the US dollar.

Aviation remained busy as IndiGo stabilised operations with nearly 2,000 flights, while the DGCA questioned the airline’s CEO o

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