Massive jump in stock market after exit polls predict big BJP win; Adani Ports, Adani Enterprises among top performers

News Network
June 3, 2024

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The share market has posted a massive jump in the early trade, banking on the hopes of political stability as predicted by the exit polls. The 30-share Sensex rallied over 2,000 points this morning while the 50-stock Nifty recorded its biggest jump in four years during the market opening.

Both Sensex and Nifty, the indexes of the Bombay Stock Exchange and the National Stock Exchange, hit their record high levels today. All Sensex and Nifty stocks are now in the green.

At pre-open, Nifty surged over 800 points or 3.58% to 23,227.90 while the Sensex jumped 2,621.98 points or 3.55% to 76,583.29.

Adani Ports, Adani Enterprises, Power Grid, Shriram Finance, and NTPC are among the top performers that led the market rally with significant gains. The latest GDP data suggesting a robust 8.2% fiscal growth also bolstered the market sentiment. 

"Buoyant sentiments are driven by India's impressive Q4FY24 GDP growth of 7.8 per cent, surpassing expectations, with the fiscal year's growth standing at 8.2 per cent," said Varun Aggarwal, founder and managing director of Profit Idea. He also cautioned that the market will remain volatile in anticipation of the results pending tomorrow.

An aggregate of 12 exit polls on Saturday predicted the BJP will return to power with the ruling NDA alliance with 365 seats. A party or an alliance needs at least 272 seats to form government in the country. The market prefers political stability and a change in government usually risks volatility in the share market, according to analysts. 

The exit polls have also predicted that the BJP is set to break ground in Kerala and Tamil Nadu in the south, and make large gains in Odisha and Bengal in the east. There is, however, a health warning: exit polls do not always get it right. 

While the BJP has welcomed the exit poll predictions, the Opposition has dismissed the forecast and said the counting day will throw a completely different picture. Following a meeting of the Opposition leaders part of the INDIA bloc, Congress chief Mallikarjun Kharge Saturday said that the bloc will win at least 295 seats out of the total 543.

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Agencies
February 7,2025

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US President Donald Trump has signed an executive order slapping sanctions on the International Criminal Court (ICC) for what he called baseless investigations targeting America and its close ally Israel over genocide in Gaza.

Trump's order said on Thursday the court in The Hague had "abused its power" by issuing an arrest warrant for Israeli prime minister Benjamin Netanyahu, who held talks with the US president on Tuesday.

The order also said the tribunal had engaged in "illegitimate and baseless actions targeting the United States and Israel," referring to ICC’s probes into US war crimes in Afghanistan and Israel's onslaught on Gaza.

The order includes asset freezes and travel bans against ICC officials, employees, and their family members, along with anyone deemed to have helped the court's investigations.

Last November, the ICC issued arrest warrants for Netanyahu and his former minister of military affairs, Yoav Gallant.

The warrants are for "crimes against humanity and war crimes committed from at least 8 October 2023 until at least 20 May 2024."

The court’s Pre-Trial Chamber I issued warrants of arrest for Netanyahu and Gallant "for crimes against humanity and war crimes committed from at least 8 October 2023 until at least 20 May 2024, the day the Prosecution filed the applications for warrants of arrest”, it confirmed in a statement Thursday.

It was the first instance in the court's 22-year history it had issued arrest warrants for Western-allied senior officials.

In its statement, the ICC's Pre-Trial Chamber I, a panel of three judges, said it has rejected appeals by Israel challenging its jurisdiction.

Trump imposed financial sanctions and a visa ban during his first term on the ICC's then-prosecutor, Fatou Bensouda, and other senior officials and staff in 2020.

Trump’s then-administration made the move after Bensouda launched an investigation into allegations of war crimes against US soldiers in Afghanistan.

President Joe Biden lifted the sanctions soon after taking office in 2021.

In January 2024, the international court of justice (ICJ) ruled that Israel must take all measures within its power to prevent genocide in Gaza. However, the regime has ignored the court's verdict.

Cuba has now officially declared its intention to join South Africa’s case against Israel at the ICJ.  Cuba is the 14th country to join the case.

 In December 2023, South Africa initiated legal proceedings against Israel, accusing it of breaching the Genocide Convention in its treatment of Palestinians in Gaza.

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coastaldigest.com news network
February 14,2025

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In a tragic turn of events, a non-resident Indian from Beltangady taluk in Dakshina Kannada, who was eagerly anticipating his return home, passed away in Saudi Arabia just hours before his scheduled journey back. The news has left his family, friends, and the entire community in deep mourning.

A Final Call Filled with Joy and Excitement

On Thursday, February 13, brimming with excitement and joy, Hidayath called his dear friend Rafiq, asking him to pick him up from Mangaluru International Airport on Friday morning. The anticipation of reuniting with loved ones after a long time was palpable in his voice. He was set to depart from Jeddah on a 10:30 pm flight, with a promise of a new dawn back home.

A Sudden Turn of Fate

However, fate had a different plan. Upon reaching Jeddah Airport, an unexpected chest pain struck Hidayath. Despite being rushed to a nearby hospital, the efforts to save him were in vain. The joyful anticipation of his return turned into an incomprehensible loss.

A Man of Talent and Dreams

Hidayath, known for his melodious singing, had initially moved to Bahrain for work before relocating to Saudi Arabia, where he worked for a cargo company. His journey was fueled by dreams and aspirations, driven by the hope of a better future for his family.

An Irreplaceable Loss

He leaves behind his grieving father Abdul Raqaq, his loving mother Shamshir Banu, his devoted wife Reshma, one son, three daughters, and countless family members and friends who cherished him. The void left by his absence is indescribable and his memories will forever be etched in their hearts.

Bringing Him Home

Efforts are underway to bring Hidayath’s mortal remains back to his hometown. His childhood friend and SDPI district secretary, Akbar Beltangady, is coordinating with authorities to ensure he makes his final journey back to the land he loved, where his loved ones await to bid him a final farewell.

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News Network
February 6,2025

Mangaluru: A man has reportedly lost ₹13 lakh after falling victim to an online trading scam. The incident began on December 14, 2023, when he received a WhatsApp message adding him to a group named "VIP3 Global Securities Official Stock Community."

The message introduced Ajay Garg as the director and CEO of SMC Group, claiming he was participating in an international stock returns competition and urging members to vote for him. The group also provided stock market investment guidance and encouraged users to open an SMC Global Securities Trading Account to access IPO stocks.

Upon inquiring in the group, the complainant was contacted by an individual claiming to be an international customer service representative at SMC Global Securities. This person, later identified as Vandana Bharti from the Institutional Brokerage, claimed she could secure high-value IPO stock allotments. The complainant was instructed to download the SMC Global Securities Trading App using a specific link, which promised 30 days of free VIP trading advice and stock market insights. He registered on the app using his PAN and mobile number and began applying for IPO stocks.

Initially, the complainant was allotted ₹15,000 worth of IPO stocks from Dam Capital Advisers Limited. The scammers claimed that ₹5,000 was covered by the company, requiring him to pay only ₹10,000, which he transferred on December 25. Soon after, he was allotted ₹1.4 lakh worth of IPO stocks from Anya Polytech & Fertilisers and was pressured to pay immediately. On December 31, he transferred the amount.

The scammers continued assigning higher-value IPO stocks, eventually allotting ₹9.9 lakh worth of stocks from Standard Glass Lining Technology Limited. When the complainant expressed an inability to pay, he was pressured into taking a ₹9 lakh loan via a mobile lending service.

On January 20, he attempted to withdraw ₹1 lakh from the SMC Global Securities Trading App to check if funds could be recovered. The withdrawal was processed successfully the same day, reinforcing his trust in the platform. However, subsequent attempts to withdraw funds were unsuccessful, and the complainant realized he had been defrauded.

Authorities are investigating the incident and cautioning the public to be vigilant against such fraudulent schemes.

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