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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News Network
October 12,2024

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The Palestinian Civil Defense in the Gaza Strip says at least 30 people were killed by Israeli strikes in the northern Gaza Strip city of Jabalia and its refugee camp Friday.

The agency’s spokesman Mahmud Bassal said the Israeli regime targeted Jabalia before 9:40 p.m. local time (1840 GMT) and left “12 dead, including women and children” in the city.

Bassal added that 14 people were still missing and likely trapped under the rubble.

Before that incident, Ahmad al-Kahlut, the director of the agency in northern Gaza, said 18 people had been killed by several Israeli strikes, including hits on “eight schools” in the camp that were serving as shelters for displaced Palestinian people.

The day’s aggression left at least 110 injured, according to figures provided by Bassal and Kahlut.

Human rights organizations have repeatedly warned against Israel’s fresh round of aggression on the Gaza Strip’s northern areas, home to hundreds of thousands of Palestinians having sought refuge from the regime’s year-long genocide in the south.

The Israeli regime announced earlier in the week that one of its largest forced displacement orders since October last year, calling for the expulsion of 37 neighborhoods across northern Gaza, which targets over 400,000 Palestinians in the entirety of the blockaded area.

In a statement, the medical humanitarian organization Doctors Without Borders, also known as MSF, said the Israeli regime’s forced expulsion orders in the northern Gaza Strip were turning the war-ravaged besieged area into a “lifeless desert.”

The Geneva-based Euro-Mediterranean Human Rights Monitor also warned earlier that the Israeli regime was subjecting the northern part of the Gaza Strip to “one of the most violent campaigns of genocide.”

The aggression comes as part of the regime’s October 7, 2023-present war on the coastal sliver, which has so far claimed the lives of more than 42,000 people and wounded over 97,500 others, most of them women and children.

Most of Gaza’s 2.3 million people have since been displaced and humanitarian conditions have deteriorated sharply.

Israel’s expulsion plan ‘could last several months’

An Israeli report based on conversations with military officials said the regime is enacting a plan that will effectively ethnically cleanse the Palestinian population in northern Gaza after a siege that could last months.

Conceived by retired Major-General Giora Eiland, the plan aims to empty northern Gaza of its 400,000 residents to make way for a “closed military zone.”

“The general’s plan,” which was launched in an Israeli TV campaign in September, called for the ethnic cleansing of northern Gaza, warning that those that remain will face starvation.

“The right thing to do is to inform the approximately 300,000 residents who remained in the northern Gaza Strip… we are ordering you to leave,” Eiland said last month.

“In a week, the entire territory of the northern Gaza Strip will become military territory.”

According to a report published on Friday in the Israeli daily newspaper Yedioth Ahronoth, the occupation is now implementing a “scaled-down” version of the plan in the Jabalia refugee camp.

Even though the “general’s plan” aims to create conditions to force the population in Jabalia and nearby Beit Hanoun and Beit Lahia to flee south, most people have refused to leave their homes so far, the report added.

Hamas ‘remains steadfast’ in face of Jabalia aggression

Hamas political bureau member Izzat al-Rishq said on Friday that the Gaza-based resistance movement “remains steadfast” in the face of the Israeli aggression on the Jabalia refugee camp, which has continued for the past six days.

“Our people’s choice will always remain … steadfastness on the ground, resilience, and resistance against the occupation’s aggression,” Rishq said in a statement.

He characterized the Israeli actions as akin to “Nazi terrorism,” highlighting that “since Oct. 7 of last year, the Israeli army has engaged in various forms of aggression against Palestinians in Gaza, the occupied West Bank, and [al-Quds] without achieving any of its violent objectives.”

“Those who hold firmly to their land and defend their rights will have the final word, while this fascist enemy will only reap further disappointment, failure, and defeat, despite international silence and complicity,” he added.

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News Network
October 8,2024

Mangaluru: The by-election to the legislative council from the Dakshina Kannada and Udupi local authorities' constituency will be a contest among four candidates. An independent candidate, Muhammed Riyaz, has withdrawn his nomination on Monday, the last day for withdrawal.

Deputy commissioner Mullai Muhilan MP stated that candidates Kishore BR (BJP), Raju Poojary (Congress), Anwar Sadat S (SDPI), and Dinakar Ullal (independent) will be in the fray. 

Polling will be held at 392 booths in Dakshina Kannada and Udupi districts between 8am and 4pm on Oct 21.

A total of 6,032 voters from Dakshina Kannada and Udupi are eligible to vote. While there will be 234 polling booths in Dakshina Kannada, Udupi will have 158 stations. Gram panchayat members, corporators of the Mangaluru City Corporation, members of city municipal councils, town municipal councils, town panchayats, MLAs, MLCs, and Lok Sabha members are eligible to vote.

Election observer of the Election Commission of India (ECI), Pankaj Kumar Pandey, reviewed the poll preparations at the deputy commissioner's office on Monday. He issued directions to officials regarding arrangements to be made during the election and counting of votes.

The deputy commissioner stated that out of 6,032 voters, 3,127 are women and 2,905 are men. He said the counting of votes will be held at St Aloysius PU College in the city on Oct 24.

Udupi deputy commissioner Vidya Kumari K, city police commissioner Anupam Agrawal, Dakshina Kannada ZP CEO Anandh K, Dakshina Kannada SP Yathish N, Udupi SP Arun K, and additional deputy commissioners Santhosh Kumar G and Mamatha Devi were present.

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News Network
October 13,2024

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The shocking assassination of politician Baba Siddique right outside his son Zeeshan's office in Mumbai has sparked nationwide outrage and concern. Mumbai, a city with a dark history of gangland violence, has witnessed yet another brutal incident, reviving memories of an era dominated by fear and crime.

Mumbai’s Dark History of Gangster Violence

In the late '80s and '90s, Mumbai was infamous for its notorious underworld figures such as Dawood Ibrahim, Abu Salem, and Chhota Rajan. The city was plagued by shootouts and attacks, often targeting rival gangsters, politicians, and Bollywood personalities. Extortion was the primary source of income for these criminals.

T-Series founder Gulshan Kumar's assassination and the shooting of filmmaker Rakesh Roshan right outside his office were among the high-profile cases that rocked the city. Although police efforts in the form of encounter killings had significantly reduced this menace, recent incidents such as shootings outside Salman Khan's residence and now, the killing of Baba Siddique, serve as a grim reminder that the city is not yet free from its violent past.

Who Are the Shooters?

The Mumbai Police have arrested two suspects linked to the murder of Baba Siddique. Gurmail Singh from Haryana and Dharamraj Kashyap from Uttar Pradesh were apprehended, while the third shooter, identified as Shiva Gautam, remains on the run. Investigations are ongoing to bring the absconding suspect to justice.

How Long Were the Shooters in Mumbai?

According to police interrogations, the shooters had been residing in Mumbai for almost a month before executing the attack. They rented a house in Kurla, a suburb of Mumbai, paying approximately Rs 14,000 a month. The trio reportedly received the weapons for the crime through a human courier just two weeks before the murder. The police have recovered the 9mm pistols used in the attack, along with 28 live cartridges.

Payment for the Murder

Sources have revealed that the hired shooters were each paid Rs 50,000 to carry out the assassination of Baba Siddique. This chilling revelation has further underscored the calculated nature of the crime.

How Was the Attack Executed?

On the day of the murder, the killers arrived on a scooter at the scene and patiently waited for their target. A collaborator kept them updated on Siddique's movements. When Baba Siddique arrived, six bullets were fired, four of which hit him in the chest, tragically ending the life of the veteran politician.

This case has not only rattled the city of Mumbai but also reopened discussions about safety, law enforcement, and the lingering threat of organized crime in the city of dreams.

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