Election Financial News

Odisha Assembly Election Results: the Bharatiya Janata Party (BJP) is currently leading in five key constituencies: Bargarh, Kalahandi, Balangir, Puri, and Keonjhar. Meanwhile, the ruling Biju Janata Dal (BJD) has established a lead in Jharsuguda, and the Congress party is ahead in Sundargarh.According to the Election Commission of India, the BJP has secured a lead in eight seats, while the BJD is leading in five.

Stock market today: After a stellar rally on Monday, the Indian stock market witnessed sharp selling in early morning deals on Tuesday. The Nifty 50 index lost around 700 points and touched an intraday low of 22,566, whereas the BSE Sensex lost over 2000 points and touched an intraday low of 74,234.

Amit Shah, Gandhinagar Election Results 2024 Live Updates: Bharatiya Janata Party's strong leader Amit Shah is leading in Gujarat's Gandhinagar constituency.

SJVN leading the losses with a decline of 10%, followed by HUDCO with a 7% drop.Other stocks, including Ircon International, GAIL (India), NHPC, Bharat Dynamics, General Insurance Corporation, National Aluminium Company, REC, Union Bank of India, Punjab National Bank, UCO Bank, Bank of Maharashtra, Bank of Baroda, Life Insurance Corporation, and Bharat Heavy Electricals, are all experiencing declines ranging from 5.5% to 7%.Furthermore, the Nifty PSU bank index witnessed a nearly 7% tumble, while the Nifty PSE and Nifty CPSE indices are trading with drops of 6.90% and 6.77%, respectively.Likewise, BSE Power also erased the majority of its Monday gains and is trading with a drop of 6.13%. Meanwhile, the BJP-led NDA on Tuesday surged ahead with leads in more than 200 parliamentary seats out of 350 for which trends were available, with the opposition INDIA bloc ahead in 120, according to television reports.On Tuesday, the BJP-led NDA surged ahead with leads in over 200 parliamentary seats out of the 350 for which trends were available, while the opposition INDIA bloc led in 120 seats, according to reports from television channels.The previous day, the BSE benchmark witnessed a remarkable surge, gaining 2,507.47 points, or 3.39%, and settling at a new closing peak of 76,468.78, marking its most substantial single-day increase in three years.

Andhra Pradesh Election Results 2024: The Telugu Desam Party (TDP) is currently leading in 14 Lok Sabha seats, while the Yuvajana Sramika Rythu Congress Party (YSRCP) trails with 4 seats as the counting for the Lok Sabha Elections 2024 begins.These elections, held alongside the state Assembly polls on May 13, witnessed a substantial voter turnout of 80.66 per cent, reflecting the electorate's high engagement.Prime Minister Narendra Modi's active involvement, including a meeting with TDP chief N Chandrababu Naidu during his nomination filing in Varanasi, underscored the significance of these elections. The NDA coalition, comprising the TDP, BJP, and Jana Sena Party, fielded candidates across the state, highlighting their job creation agenda and critiquing the current state's governance.The YSRCP, which contested all 25 Lok Sabha seats, focused its campaign on the welfare measures implemented over the past five years.

Bharatiya Janata Party, early trends show that INDIA bloc is currently leading in the biggest state of India.

Intel launched its next generation Xeon server processors on Tuesday, as it looks to claw back data center market share and revealed that its Gaudi 3 artificial intelligence accelerator chips would be priced much lower than its rivals' chips.

Opposition coalition of parties led by the INDIA bloc was trailing once again in Uttar Pradesh with around 39 seats while the NDA was leading with 40 seats, as per early trends around 9:50 am.

Indian market is expected to trade volatile amid election results. The Nifty future closed positive with gains of 3.30% at 23450 levels on Monday. India VIX crashed and was down by 14.87% from 24.60 to 20.94 levels.

China's factory activity grew the fastest in about two years in May due to production gains and new orders, particularly at smaller firms, a private sector survey showed on Monday, lifting the outlook for the second quarter.

investors chose to adopt a risk-averse stance ahead of the announcement of Lok Sabha election results later in the day, Sensex opened over 1,600 points lower on Tuesday, dragged by heavyweights Reliance Industries, and financial stocks. As of 9:50 am, the BSE Sensex was trading 1,700 points, or 2.09%, lower at 74,867.26. The Nifty50 was down 509.60 points, or 2.19%, trading at 22,754. Volatility gauge India VIX also spiked 20% to 25 levels.

US PMI data, gold August futures at MCX opened flat at Rs 72,160 per 10 grams down by 0.06% or Rs 43, while silver July contracts stood at Rs 92,099/kg, up 0.07% or Rs 66. Domestic markets settled on a positive note. Gold August futures contract settled at Rs72,203 per 10 grams with a gain of 0.51% and silver July futures contract settled at Rs92,033 per kilogram with a gain of 0.51%.

Indo-Pacific Economic Framework is holding a ministerial meeting this week in Singapore, including major firms joining a «Clean Economy» investor forum to boost infrastructure and climate investments across the region.

Government bond yields closed at their lowest levels in more than two years, and the rupee logged its largest single-day gain since December, as exit polls predicted a strong victory for the ruling National Democratic Alliance (NDA) in the general elections, kindling expectations of policy continuity. Yield on the 10-year benchmark government ended the day's trade at 6.9438%, its lowest closing level since April 7, 2022, LSEG data showed. The bond had closed at 6.9860% on Friday. Bond prices and yields move inversely. A fall in government bond yields makes it cheaper for companies to raise funds through debt as sovereign bond yields are the pricing benchmarks for corporate debt.

Adani One, the super app being built by the Ahmedabad based Adani group has launched a cobranded credit card with private sector lender ICICI Bank.

rally, taking heart from the exit polls which have predicted a massive mandate for the Modi government once again. In today's trade, shares of ZEE, M&M Financial, Dr Reddy's, Wipro, Biocon among others will be in focus today due to various news developments. ZEE

voter turnout across Bangalore's four constituencies was notable: Bangalore South saw 53.17%, Bangalore Central recorded 54.06%, Bangalore North had 54.45%, and Bangalore Rural achieved 68.30%. These constituencies, part of Karnataka's 28 Lok Sabha seats, experienced competitive races, particularly in Bangalore South, historically a BJP stronghold, and Bangalore Rural, with its dynamic contest between high-profile candidates. The elections featured incumbent BJP MPs aiming to retain their seats and Congress candidates striving to reclaim influence, focusing on issues like infrastructure, development, and representation.

Delhi voted on May 25, Saturday BJP and the INDIA bloc partners pitted in a direct, one-on-one contest in all the seven Lok Sabha constituencies.

stock market zoomed to record highs on Monday, clients of various large brokerages were unable to cut their holdings earlier in the trading session on account of a system failure at India's largest depository, Central Depository Services (CDSL). Officials at top broking firms said the TPIN (Transaction Personal Identification Number) authorisation issued by CDSL for selling shares was not functioning. TPIN authorises CDSL the debit of securities from their demat account in sale trades.

Indian equities soared to new closing highs, the rupee firmed up and bond yields fell to two-year lows on Monday as investors cheered the likelihood of the Bharatiya Janata Party (BJP) returning to power with a strong majority, based on exit poll numbers. The benchmark indices jumped over 3% each, the biggest single-day gain in four years, while the Volatility Index (VIX) — the market's fear gauge — plunged 14.9% a day before votes are counted Tuesday. Whether the bullish momentum continues over the next few trading sessions will depend on how many seats the BJP-led coalition gets. Investors should brace for a brief reversal if the results aren't aligned with exit poll predictions, analysts said. «Given that the exit poll trends translate into results on Tuesday, a continuation of the relief rally can happen, with the market (Nifty) touching 23,500 briefly before profit booking takes over,» said Venugopal Garre, managing director, Bernstein, in a note to clients. «A greater margin of victory — with seats going into the 380-390 or above range — can increase the magnitude but not the duration of the rally.»

Continuum Green Energy, a renewable energy generator, is seeking to raise about $650 million in bonds for seven years to refinance its existing debt, said people with knowledge of the matter. The company is likely to appoint Deutsche Bank, HSBC, JPMorgan, and Standard Chartered Bank as arrangers. The fundraise is likely to refinance $561 million in bonds raised by its subsidiary, Continuum Energy Levanter Pte Ltd, which were raised at 4.5% and due in February 2027. However, the all-in cost of the bond is almost double the 4.5%,prompting the company to refinance the earlier tranche, a person cited above said.