India Financial News

Lok Sabha Election Results 2024 Live Updates: The final count for the Lok Sabha 2024 elections has concluded, and the Election Commission of India has announced the outcome for all Lok Sabha constituencies. The BJP emerged victorious in 240 out of 543 seats, while the Congress secured 99 seats.

Top Events of the Day: Leaders of the INDIA Bloc will meet in Delhi on Wednesday to plan their next steps after the recent Lok Sabha elections, signalling a potential shift in the political landscape. NCP chief Sharad Pawar highlighted the environment that is favourablefor transformation.Also Read | RBI not in a hurry to cut interest ratesThe Union Cabinet will meet on June 5 morning to take stock of the Lok Sabha election results and may recommend the dissolution of the current Lok Sabha.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 5On Tuesday, the Indian stock market suffered a massive selloff after the Lok Sabha election result trends fell short of what the exit polls had predicted, spooking investors.The Sensex crashed 4,389.73 points, or 5.74%, to close at 72,079.05, while the Nifty 50 settled 1,379.40 points, or 5.93%, lower at 21,884.50.“Markets will likely shed the 'Modi premium,' causing a correction in PSU and infra stocks. Once this turbulence stabilizes, attention will shift to the core macro factors affecting India.

SINGAPORE — Customers in Asia-Pacific have picked their favorite banks as lenders scramble to meet consumer expectations in a fast-changing environment.

PSUs) tanked in Tuesday's trading as investors worried about their prospects after the Bharatiya Janata Party failed to secure a thumping majority in the general elections — considered key for further gains in these stocks. Investors are concerned that a weakened BJP-led coalition government's focus on reviving state-owned companies could hit a roadblock in its third term. The BSE's PSU index tumbled 15.7%, its highest single-day losses ever, while the Sensex and Nifty dropped between 5% and 6%. Power financier REC slumped 24%, followed by Power Finance Corporation, Container Corporation of India, Bharat Electronics, BHEL, SAIL which have declined between 18-22%. Most PSU stocks tanked over 10% during the day. The sell-off eroded ₹10.62 lakh crore of PSUs' market capitalisation in a day.

markets reacted sharply on Monday to the NDA falling short of expectations in the Lok Sabha elections, which triggered a loss nearly 6% to both Sensex Nifty «The markets are pricing the risk associated with this scenario, and the potential impact of a shift toward socialist policies by the government, thus leading to a sell-off,» said Yashovardhan Khemka, Senior Manager, Research & Analytics at Abans Holdings.

BJP falling short of the halfway mark on its own but managing to get past the post as the National Democratic Alliance.

INDIA bloc defied the ruling party’s disparaging characterisation of the coalition as a ramshackle grouping of unelectable parties with a striking poll performance — especially in the key state of Uttar Pradesh — that prevented the Bharatiya Janata Party (BJP) from achieving a majority in the Lok Sabha on its own. The Congress led INDIA with a tally of 99 seats, followed by the Samajwadi Party (37), the Trinamool Congress (29) and others, taking the coalition’s number to 234, bringing it the closest it has been to the prospect of power in a decade, faring much better than exit poll figures on Saturday and triggering a plunge in the stock market, which had been expecting the BJP to do much better.

Viswas Raghavan joined Citigroup as its new head of banking this week in New York, the lender said on Tuesday, after it hired the former head of investment banking from JPMorgan earlier this year.

democracy! Rarely has an election ended with the losers celebrating more than the winners. The BJP’s claim that it would exceed 400 seats has been exposed as a fairy tale. Voters have sent an unmistakable message that India is not going to become a saffronised fiefdom of the BJP.

Lok Sabha elections 2024 Results: June 4 is here, and people across the world have set their eyes on the clock as the biggest democracy is all set to get its new government. The year 2024 is packed with elections across several nations, and India's general election is one of the most crucial ones, as the new government will be formed amid intense geopolitical tensions and wide trade disruptions.

BENGALURU : The brunt of the slowdown in India’s once highly vaunted edtech sector has fallen on its foot soldiers. As online tutoring startups struggle with falling revenues and reduced investor funding, they are cracking the whip on their salespeople, thrusting on them higher targets and longer hours while saving on incentives. Mint’s conversations with about two dozen sales executives across edtech firms including upGrad, Unacademy and Scaler suggest the situation may be heading from bad to worse, not only for the employees but also for the sector.

NEW DELHI : Centre-state relations may be about to get a makeover. The resurgence of regional parties in the National Democratic Alliance (NDA) as also in the Congress-led Indian National Developmental Inclusive Alliance (INDIA), which rules several states, might lead to significant shifts in the dynamics between the Centre and states, experts said.

Also read: Lok Sabha election results: Basant Maheshwari warns PSU stock holders of downtrend, says to 'analyse shares'Nifty 50 plummeted 8.5 percent to reach its intraday low of 21,281.45, opening at 23,179.50, on Tuesday. The Sensex began trading at 76,285.78, and it fell 8.2 percent to reach 70,234.43.Sensex concluded the day at 72,079.05, down 4,390 points, or 5.74 percent, while Nifty 50 finished the day at 21,884.50, down 1,379 points, or 5.93 percent.“Indian equities plunged after the vote counting trends suggested a lower seat count for the ruling NDA government.

Andhra Pradesh and Telangana helped the BJP make up for some of its losses elsewhere, as the National Democratic Alliance (NDA) captured 31 out of 42 seats in the two states, compared to just four seats in the 2019 polls.

Agniveer scheme and farmers protest against the three farm laws made the BJP suffer heavy losses in two states – Haryana and Rajasthan – which the party swept in 2019 and its candidates won by the handsome margins.

Samajwadi Party, led by Akhilesh Yadav, delivered a massive blow to the BJP in UP as it emerged as the single largest party and, together with Congress as part of the INDIA bloc, was able to halve the BJP’s tally in the state that had played a crucial role in propelling the ruling party to victory in the last two general elections. It was the SP’s best performance in a Lok Sabha election ever (it had won 35 seats in 2004), and with these results, a redefined SP under Akhilesh Yadav has become the third largest national party after BJP and Congress, in what considerably raises Yadav’s national stature and makes him a force to reckon with, especially in the 2027 state assembly elections.

legislative assembly polls on Tuesday as the Chandrababu Naidu-led TDP-BJPJSP alliance routed the YSR Jagan Mohan Reddy regime, winning 165 out of 175 seats.

INDIA bloc has become a success experiment and the main national Opposition bloc within a year of its launch In Patna in June last year. The coming together of the INDIA allies, besides their ideological and political opposition to the BJP, is also a story of how the leaders of the Congress and many important regional parties, facing unprecedented political and administrative offensive from the Centre and the relentless actions of the central investigating agencies, were forced into joining hands by burying their turf and ego issues to launch a united resistance and fight back against the BJP and the Modi government.

Maharashtra, but not the kind the Bharatiya Janata Party (BJP) was expecting. The saffron party, which was talking of bagging more than 45 seats in the state, managed to get a lead in only 17 seats with the help of its allies- -the Shiv Sena and the Nationalist Congress Party (Ajit Pawar).

inflation has been a thorn in the Reserve Bank of India's (RBI) side for long, but the elections have thrown up a new reason for the central bank to keep rate cuts at bay for the foreseeable future — a potentially new fiscal landscape led by populist spending.