Election Financial News

Sensex closed at record highs, hitting over 23,250 and 76,400 mark, respectively, on Monday. This surge followed exit polls over the weekend projecting a third term for Prime Minister Narendra Modi's government in the recently concluded general elections. The 30-share BSE benchmark Sensex advanced 2,507 points or 3.4% to settle at 76,469. The broader NSE Nifty gained 733 points or 3.25% to end at 23,264.

Varanasi constituency in Uttar Pradesh is set to play a crucial role in the 2024 Lok Sabha elections. The BJP has held Varanasi as a stronghold since 1991, winning seven times and losing only once, in 2004, to Congress's Rajesh Kumar Mishra. Prime Minister Narendra Modi is up against six candidates, including Congress's state president Ajay Rai. In 2014, Modi contested the Varanasi seat for the first time, winning by 3.72 lakh votes (56.37% of the vote share), defeating AAP's Arvind Kejriwal. In the 2019 elections, he won again, increasing his margin to over 4.5 lakh votes (63.6% of the vote share) against Samajwadi Party's Shalini Yadav, while the NDA returned to power.

Exit polls suggest that the BJP may not achieve a clean sweep in Rajasthan's parliamentary elections, unlike in 2014 and 2019. This time, predictions indicate that five to seven seats might be won by the opposition INDIA bloc. The final results will be known on Tuesday, following the vote counting process.

Election Commission of India on Monday rejected Congress leader Jairam Ramesh's request for a one week extension of time to back his accusations against Amit Shah.

Let's take a look:SBI: The stock is in an overall uptrend and forming higher highs – and higher lows on a monthly scale. The stock has outperformed within the PSU space and is likely to scale new record highs.L&T: The stock has given a range breakout on the weekly chart and holding well above 50 DEMA.

ALSO READ: CEC reacts to Congress' claim against Shah 'influencing' 150 ROs: 'Not right...'Sonia along with Rahul Gandhi paid floral tributes to former Tamil Nadu chief minister K Karunanidhi at the DMK office in New Delhi on Monday.The majority of the exit polls on Sunday predicted that the BJP-led NDA will win the Lok Sabha elections 2024. According to India Today-Axis My India exit polls, NDA is expected to win 361-401 Lok Sabha seats, while the INDIA bloc is expected to win 131-166 seats.The Republic PMarq exit poll predicted 359 of 543 seats for the NDA and 154 seats for the INDIA bloc.The NewsX Dynamics gave 371 seats to the NDA and 125 seats to the INDIA bloc.Earlier, Congress leader Jairam Ramesh termed the exit polls as a "Psychological game" and said that there will be a huge difference in exit polls and results on June 4.ALSO READ: Exit polls predict Modi 3.0: Sharekhan lists top stocks for short and long term“The outgoing PM, the person who will have to leave for sure on June 4 has conspired all these things and has managed the exit polls.

Poll of Polls: 10 exit polls predict 350+ seats for BJP-led NDA, three 400+; INDIA bloc to get less than 200 seatsOsho Krishnan, a senior technical ad derivatives analyst at Angel One, pointed out that the exit poll outcome cheered market sentiments, skyrocketing key indices to their respective lifetime high levels. However, Implied volatility, a measure of market uncertainty, continues to hover at an elevated zone."Given the eventful week with the election outcome and RBI MPC result, it's best to take a cautious approach and maintain a practical view.

ALSO READ: Exit Polls 2024: Modi-led NDA poised for third term with 350-370 seats; what should investors do next?“There are allegations that ROs [Returning Officers] in large numbers were influenced. How can someone influence them all? Tell us who did this.

Mint in detail about his perspective on the markets and on investing. Edited excerpts: The term "long term" has been misused in recent market runs. For traditional investors focusing on generational wealth through equities, long term means beyond three to five years.

Lok Sabha constituency in western Tamil Nadu is witnessing an intense electoral battle in 2024. Key contenders include K. Annamalai from the Bharatiya Janata Party (BJP), Ganapathi P. Rajkumar from the Dravida Munnetra Kazhagam (DMK), Singai G. Ramachandran from the All India Anna Dravida Munnetra Kazhagam (AIADMK), and Kalamani Jeganathan from the Naam Tamilar Katchi (NTK).

India VIX fell 22% to the day's low of 19.12 on Monday after a screaming call by exit polls suggesting the return of the incumbent Bharatiya Janata Party (BJP) led NDA government. At 1:20 pm India Vix stood at 20.21, down by 17.85% from 24.60 on Friday. According to the average of 12 exit polls, NDA is seen as winning 367 seats this time, improving its 353 count in the 2019 elections. Even the lowest forecast is that of 316 seats. While the NDA may fall short of its ambitious 'Abki Baar 400 Paar' target, traders see Nifty going beyond 24,000 this week.

Gurgaon Lok Sabha constituency in Haryana as the Congress nominated actor-turned-politician Raj Babbar from the seat against sitting MP Rao Inderjit Singh of the ruling BJP.

Nifty opened with a gap up on Monday at 23,337, which was above its previous all-time high of 23,110, due to the exit poll impact. Market and investors seem to be bullish as they foresee the return of the current government. The exit polls have indicated that the BJP-led NDA Alliance is going to take over the third term with a thumping majority. This marks their third term with even higher numbers of seats, vote shares, and pockets opening up in southern India.

Rahul Gandhi's vote share in Wayanad is set for a big erosion, the VMR-Manorama News exit poll showed. According to the poll, if the Congress leader had garnered 64% vote share in the last elections in 2019, his vote share will this time come down to 50%.

Behrampur Lok Sabha constituency in West Bengal's Murshidabad District is a key battleground this election. TMC's Yusuf Pathan, a former cricketer, faces veteran MP Adhir Ranjan Chowdhury, who has held the seat since 1999. For Pathan, this marks his political debut, and he is confident the people of Behrampur will embrace him as their new hope.

heatwave from March to May, Reuters reported, citing local media and government data.May was particularly harsh, with temperatures in Delhi and Rajasthan soaring to 50 degrees Celsius (122 degrees Fahrenheit).Meanwhile, parts of eastern India grappled with Cyclone Remal, and heavy rains in Assam claimed 14 lives since Tuesday.Also Read | Lok Sabha elections 2024: Postal ballots will be counted first, confirms ECI day after Oppn moves poll bodyOn Friday, at least 33 people, including election officials, died of suspected heatstroke in Uttar Pradesh, Bihar, and Odisha during India's general election.Data from the National Centre for Disease Control (NCDC) revealed that May was the worst month, with 46 heat-related deaths and 19,189 suspected heat stroke cases, as reported by The Print.Including suspected cases, the total death toll in India could be as high as 80, according to The Hindu. The central state of Madhya Pradesh alone recorded over 5,000 heat stroke cases.Also Read | Bill Gates to Elon Musk and Mark Zuckerberg — A look at the hobbies tech billionaires enjoyNotably, there is some relief in sight as the weather office has predicted less severe heatwave conditions until Wednesday.

₹25,586 crore, leading to a total outflow of ₹12,911 crore when considering debt, hybrid, debt-VRR, and equities, according to data from the National Securities Depository Ltd (NSDL). Despite this, FPIs maintained their status as net buyers in the Indian debt market, with total inflows amounting to ₹8,761 crore in May 2024.The selling in May also comes on the back of high volatility in the Indian market during the month. The benchmarks fell sharply in the first half of the month on the back of FPI selling, rise in US bond yields, and uncertainty of the election results.

Mexico's first female president. She succeeded her mentor and outgoing leader, Andres Manuel Lopez Obrador, whose strong support among the impoverished contributed to her victory.Here are the top 5 updates:1. A climate scientist and former mayor of Mexico City, Sheinbaum, clinched the presidency with an estimated vote share ranging from 58.3% to 60.7%, per a swift sample count conducted by Mexico's electoral body.

State Bank of India (SBI), the nation's largest public sector bank, rose 9.8% to reach an all-time high of ₹911.30 apiece in today's intraday session. This pushed the bank's market capitalisation beyond ₹8 lakh crore for the first time, making it the first PSU company to achieve this milestone.SBI has now entered the ₹8 lakh crore market capital club, becoming the fourth listed company to achieve this milestone.

exit polls, it appears that BJP's war cry may transform from «Aayega Toh Modi Hi» to «Todega Toh Modi Hi.» If these predictions hold true, the Modi-led BJP is poised to extend its influence from the north to the southern tip of India, marking a new era of BJP dominance across India's political landscape.

market capitalisation of India's largest public lender State Bank of India (SBI) on Monday crossed Rs 8 lakh crore as the stock hit a fresh 52-week high of Rs 911 on the NSE, gaining nearly 10% in the intraday trade. The rally in SBI was on the back of exit poll predictions which have indicated a thumping majority for the Narendra Modi government.