Election Financial News

Arvind Kejriwal on Sunday surrendered himself at the city's Tihar Jail after the interim bail granted to him by the Supreme Court came to an end. The Aam Aadmi Party chief was granted relief to campaign in the Lok Sabha elections for his party.

Why did FPIs dump ₹25,586 crore worth of Indian shares in May—Explained with 4 key reasonsArora further added that the FII category does not get squeezed generally. “FII as a category does not get squeezed- except some individual fund here or there (which happens all the time)," he said.The sentiments of foreign investors have been impacted by the volatility stemming from the Lok Sabha elections in 2024, a more aggressive stance taken by global central banks, the strong performance of Chinese markets, and various other global indicators.FPIs divested Indian equities valued at ₹25,586 crore, with a total outflow reaching ₹12,911 crore by May 31, encompassing debt, hybrid, debt-VRR, and equities, as per data from the National Securities Depository Ltd (NSDL).

Also Read: Arvind Kejriwal Surrender Live Updates1) The Supreme Court granted me bail for 21 days to campaign for elections. I want to thank SC for that. Today, I am going to Tihar Jail again.

ALSO READ: Assembly Election Results 2024 Live UpdatesPM Modi took to X (formerly Twitter) and wrote, "Thank you Arunachal Pradesh! The people of this wonderful state have given an unequivocal mandate to politics of development. My gratitude to them for reposing their faith in @BJP4Arunachal yet again. Our Party will keep working with even greater vigour for the state’s growth."He also added, "I would like to appreciate the hardwork of the exceptional @BJP4Arunachal Karyakartas through the election campaign.

Narendra Modi on Sunday thanked the people of Arunachal Pradesh for reposing their faith in the BJP yet again and said the party will keep working with even greater vigour for the state's growth. The BJP on Sunday returned to power in Arunachal Pradesh for the third time in a row, as the party won 46 seats in the 60-member assembly and secured a majority, the Election Commission officials said.

Sikkim BJP president Dilli Ram Thapa lost to SKM nominee Kala Rai in the Upper Burtuk assembly constituency, officials said on Sunday. Thapa, a sitting MLA and a former minister lost to Rai by 2,968 votes.

Nifty ended the month in red, declining by 74 points to close at 22,530. However, since December, the index has been touching new peaks every month. High volatility was experienced due to the election season, the results of which will be declared on Tuesday, June 4. The week also witnessed high fluctuations as the index closed 2.5% lower on Friday from its all-time high of 23,110 on Monday. Currently, India VIX stands above the 24 mark.

Athawale on Sunday said the ruling National Democratic Alliance (NDA) will get more number of Lok Sabha seats than predicted by the exit polls. Addressing a press conference here, Athawale expressed confidence that the BJP-led NDA will get more than 400 seats in the 543-member Lok Sabha.

Tihar jail, Delhi Chief Minister Arvind Kejriwal decried the incumbent Narendra Modi government's alleged dictatorship, and said that like Bhagat Singh, he is ready to die for the country.

Exit polls have thrown up an interesting phenomenon: the BJP can do better without many of its allies. The party had set an ambitious 400-seat goal for the National Democratic alliance it leads. To chase that goal, and to outcompete the INDIA bloc of opposition parties, it made a lot of effort to stitch alliances in Maharashtra, Bihar, Karnataka and Andhra. Exit polls show that most of the BJP's allies, except in Andhra Pradesh, have only weighed the party down. And it appears to be doing well on its own in states where it ditched its old allies such as the Akalis in Punjab and the AIADMK in Tamil Nadu.

Congress leaders on Sunday exuded confidence that the party will do much better than what was projected in the exit polls in states such as Karnataka, Maharashtra, Punjab, Haryana, Uttar Pradesh and Rajasthan, and asserted the INDIA bloc is going to form the next government. The assertion was made at an online interaction Congress general secretary Jairam Ramesh had before the media with key state leaders, PCC presidents and legislature party leaders of various states.

Amish, who for the first time is openly supporting Prime Minister Narendra Modi in the Lok Sabha elections, said getting the right leadership is a must if India wants to benefit from the changing world order. In an interview to PTI, Amish, currently basking in the glory of the success of his documentary "Ram Janmabhoomi Temple: The Return of a Splendid Sun", said we are living in a critical age where a lot of things will be re-written and India should make the most of it.

India markets to cheer likely third term for Modi, hope for reforms“Monday morning markets would celebrate the EXITPOLL numbers and open with a gap-up strength. The gap up would be on the back of exit poll reports suggesting BJP can comfortably get 350++ seats pushing the Nifty to look to move-up for new lifetime highs.

MUMBAI : India’s benchmark Nifty index may open higher by 2.5-3% on Monday, with exit polls predicting a sweeping victory for the ruling Bharatiya Janata Party-led National Democratic Alliance in the just-concluded national election. The gap-up is expected to result in a rush for short covering by foreign institutional investors and proprietary traders who had feared the NDA might not be able to secure more than 300-310 Lok Sabha seats, say market experts Mint spoke with.

Congress leader former AICC chief Rahul Gandhi on Sunday said that “the poll Modiji's fantasy poll".Also Read: Exit Poll 2024 Live Updates: BJP-NDA to surpass 400-mark in Lok Sabha elections, predict Today's Chanakya, Axis My IndiaCongress leader was speaking to the reporters when he said, “It is not exit poll, it is Modi media poll. It is his fantasy poll." Meanwhile, when asked about the number of seats for the INDIA alliance, Rahul Gandhi said, “Have you heard Sidhu Moose Wala's song 295? 295."Earlier in the day, Congress president Mallikarjun Kharge, Rahul Gandhi, party general secretaries Jairam Ramesh and K C Venugopal, along with other senior leaders, interacted with the party's Lok Sabha candidates and reviewed the preparations for the counting day on June 4, PTI reported.The meeting follows a day after exit polls forecasted that Prime Minister Narendra Modi would secure a third consecutive term in power, with the BJP-led NDA projected to secure a significant majority in the Lok Sabha polls.Also Read: On Congress' exit poll boycott, Pawan Khera counterattacks Amit Shah's ‘denial mode’ remark: ‘Deal for you…’Ramesh has said that the exit polls that came out Saturday evening are "completely bogus" and have been “orchestrated and masterminded by the man whose exit is inevitable and guaranteed on June 4."“These are all part of the psychological games being played by the outgoing prime minister (Narendra Modi) and the outgoing home minister (Amit Shah).

India stock market: The Indian stock market benchmarks, Sensex and Nifty 50, closed with slight gains on Friday, May 31, breaking the pattern of losses from the preceding five sessions. The Sensex concluded the session with a 0.10 percent rise, gaining 76 points to reach 73,961.31, as 15 stocks saw an increase.

Telangana and Andhra Pradesh starting Sunday, as stipulated by the Andhra Pradesh Reorganisation Act of 2014.Starting June 2, Hyderabad will exclusively serve as the capital of Telangana. When unified Andhra Pradesh was bifurcated in 2014, Hyderabad was designated as the capital of both states for a period of 10 years."On and from the appointed day (June 2), Hyderabad in the existing State of Andhra Pradesh, shall be the common capital of the State of Telangana and the State of Andhra Pradesh for such period not exceeding ten years," the AP Reorganisation Act said.

The world is too distracted with ongoing wars and high-stakes election campaigns to pay attention to a remarkable proposal from China. At the United Nations Conference on Disarmament held in Geneva this February, one of Beijing’s senior officials dealing with nuclear weapons policy declared that “nuclear-weapon states should negotiate and conclude a treaty on no-first-use of nuclear weapons against each other or make a political statement in this regard." There had been some indications towards the end of 2023 that China was planning to engage the United States in a new phase of discussions on nuclear security, but the proposal in Geneva is as breathtaking as it is promising. The world—and India — must approach it constructively.

Sikkim Democratic Front bagged 3,050. Counting of votes for 32 assembly seats in Sikkim began at 6 am on Sunday amid tight security arrangements.Also Read | Live updates on Sikkim, Arunachal Pradesh Assembly Election Results 2024Polling for 32 assembly seats in Sikkim was also held on April 19, simultaneously with the first phase of Lok Sabha elections.

Bajaj Finance, IT giant Infosys and tech services firm TCS, said Neeraj Dewan, director at brokerage Quantum Securities.Longer-term, stocks related to the investment cycle such as capital goods, infrastructure and commodity firms could benefit, said Vikaas Sachdeva, managing director of investment firm Sundaram Alternates.The benchmark indices, up 4% this year, experienced volatility around two-years highs in May as shadow betting markets suggested the election would be closer than opinion polls had suggested before the seven-stage vote began.Foreign investors sold a net $3 billion in May and stepped up hedging ahead of the election verdict.These investors could return "in a big way" after staying on the sidelines, said Dewan of Quantum Securities.Such inflows will put upward pressure on the rupee, which the central bank has been attempting to curb through market intervention, and will boost bond prices, said Madhavi Arora, economist at Emkay, a Mumbai-based brokerage.If Modi wins the strong victory suggested by the exit polls, he could gain political capital to push through tougher reforms needed to keep the economy of the world's most-populous nation growing robustly.India's economy accelerated to 8.2% growth in the financial year to March 2024 from 7% the previous year, led by government spending on infrastructure and a boom in real estate, data showed on Friday.But private firms have not stepped up spending on setting up fresh capacities and consumption in rural areas has been weak.An expectation of continuity in economic policies could lead to a pick-up in private investment, said Sachdeva of Sundaram Alternates."Post election results we will see lot more news coming in from the private sector, which will lead to a

Foreign investors pulled out a massive Rs 25,586 crore from Indian equities in May due to uncertainty surrounding the outcome of general election and outperformance of Chinese markets. This was way higher than a net outflow of over Rs 8,700 crore in April on concerns over a tweak in India's tax treaty with Mauritius and a sustained rise in US bond yields. Before that, FPIs made a net investment of Rs 35,098 crore in March and Rs 1,539 crore in February, while they took out Rs 25,743 crore in January, data with the depositories showed.