Election Financial News

India's northwest braces for more heatwave days this summer, capital Delhi has ordered the closure of all schools as temperatures surge as high as 47 degrees Celsius ahead of voting in the final two phases of national elections. The India Meteorological Department said a confluence of weather patterns was driving up temperatures in the breadbasket region. WHY IS INDIA IS SEEING MORE HEATWAVES?

Indian rupee closed marginally stronger on Tuesday despite weakness in most Asian currencies, with traders broadly expecting the rupee to see rangebound price action ahead of the outcome of India's national elections. The rupee ended at 83.3050 against the U.S. dollar, slightly higher than its close at 83.3350 on Friday.

Ebrahim Raisi, in a helicopter crash on Sunday is unlikely to result in immediate changes to Iran's ruling system, which Supreme Leader Ayatollah Ali Khamenei determines. However, Raisi was widely viewed as a leading candidate to succeed the 85-year-old supreme leader. His sudden death raises the possibility that Khamenei's son could eventually assume the position.

“There’s always been a market for people who pretend to know the future." —Charlie Munger Recently, social media has been inundated with inquiries from people seeking advice on how to position themselves in anticipation of significant events, such as trends emerging from the general election at 9.15am on 4 June, when India’s equity markets open for trade. Big events often create anxiety for most people regarding the decision to act or not. This response is quite natural and is part of human evolution.

Former AAP leader Jagbir Singh Brar joined the BJP here on Tuesday ahead of the remaining two phases of the Lok Sabha elections. Brar, a former Punjab MLA, joined the BJP here at the party headquarters in the presence of senior leaders, including party national general secretary Tarun Chugh. Before joining the AAP about a year ago, Brar was a member of the Shiromani Akali Dal. He had won the Jalandhar Cantonment seat on a SAD ticket in the 2007 assembly elections.

NDTV, Kishor said, "I think Modi-led BJP is returning. They may get the same numbers as last election or do slightly better." “Unless there is widespread anger or clamour for the rivals, I do not think a big change will be seen." Further adding, he said, "So far, we have not heard that there is widespread public anger against Modiji. There may be disappointment, unfulfilled aspirations, but we have not heard of widespread anger," he said as quoted by NDTV. Speaking on the INDIA bloc, the political strategist added that the opposition bloc did not take any major action for months after announcing their alliance nor did they announce any prime ministerial candidate.

Read here: Elections 2024 & Stock Markets: ‘Stop predicting, start…’ says Deepak Shenoy "In our view, a large part of the optimism is already priced in, while disappointment is not. Therefore, the risk-reward is skewed slightly towards a buy-on-dip strategy, rather than going all in," it said. Overall, it continues to believe the Indian equity market will deliver low double-digit returns in the current financial year after the positive performance YTD.

public life for indulging in Hindu-Muslim rhetoric everyday and «fostering hatred» in society, Congress president Mallikarjun Kharge has said. In an interview to PTI, Kharge alleged PM Modi's intentions are not clean as he is giving daily "hate speeches" with Hindu-Muslim rhetoric during the poll campaign. Noting that the PM talks about «taking away buffaloes» and «giving 15 percent budget to Muslims», Kharge said, «By saying such things, he is himself creating division in society». «On the other hand he claims that he has no right to be in public life if he talks Hindu-Muslim. As you talk such things everyday, you should quit public life,» the Congress president said.

Supreme Court on Tuesday adjourned the hearing of former Jharkhand Chief Minister Hemant Soren's bail plea, refusing to grant bail. A bench of Justices Sanjiv Khanna and Dipankar Datta said it will hear the plea on May 22 after hearing the case for an hour. Senior advocate Kapil Sibal, representing Soren cited the case of Delhi chief minister Arvind Kejriwal and asked the court to release the JMM leader him to campaign for the Lok Sabha elections. The Enforcement Directorate (ED) had opposed Soren’s bail plea on May 20. In its affidavit, the ED argued that evidence establishes Soren's involvement in the illegal acquisition and possession of properties. The ED argued that campaigning for election was neither a fundamental, constitutional, nor a legal right.

Delhi will observe dry days from 6 PM on May 23 to 6 PM on May 25, due to the upcoming Lok Sabha Elections 2024. This decision, mandated by the Election Commission of India (ECI), aims to maintain public order and ensure a fair and peaceful election process. Directive from the Election Commission The ECI has directed that all wine shops and bars in the affected constituencies, as well as adjacent constituencies, will remain closed during this period. «All wine shops and bars will be closed on polling day to maintain public order,» stated the ECI directive. This measure is crucial for preventing any disruptions on election day.

INDI alliance has been completely defeated in the fifth phase of the 2024 Lok Sabha elections polling which was held on Monday. PM Modi also said that India of the 21st century can't march ahead with the «sins» of the INDI alliance. Addressing a public meeting in Bihar's Champaran. PM Modi said, «In the fifth phase, the INDI alliance has been completely defeated. India of the 21st Century cannot move forward with the sins of the INDI alliance. And that is why in every election the public is strongly attacking parties like Congress and RJD. On June 4, there will be an attack on corruption, politics of appeasement, tukde tukde gang...»

Phalodi Satta Bazaar Prediction: As the results date for the Lok Sabha elections draws near, Rajasthan's renowned Phalodi Satta Bazaar has gained attention for its predictive betting assessments. With five phases of voting completed and two phases remaining, speculation is high on which party will secure a majority and form the next government at the Centre. The Phalodi Satta Bazaar has a history of accurate predictions, whether it be elections, cricket matches, or weather forecasts. Phalodi Satta Bazaar’s Predictions for BJP The betting market suggests a strong performance for the BJP, predicting they will win approximately 300 seats as of May 13, 2024. In contrast, the Congress is projected to secure only 40-42 seats, a decline from their 52 seats in the 2019 elections. The remaining seats are expected to be distributed among other parties. If these predictions hold true, it would reinforce the accuracy of the Phalodi Satta Bazaar's assessments.

Donald Trump’s lawyers on Monday pressed the judge overseeing his hush money trial to stop the case from going to the jury and throw out the charges after prosecutors concluded their presentation of evidence.

shares of ABS Marine Services listed on the NSE SME platform with a premium of 100% on Tuesday. The stock was listed at Rs 294 as against an issue price of Rs 147 per share. Ahead of the debut, the company's shares were trading with a premium of Rs 100 in the unlisted market.

“Over the next decade, India will be a buy on dip market — all corrections should be used as buying opportunities to increase allocation to equities as an asset class,” says Aditya Sood, Fund Manager, InCred Asset Management. In an interview with ETMarkets, Sood said: “FIIs were net sellers of approximately Rs 35,700 crore in April and Rs 33,539 crore, while DIIs were net buyers of over Rs 44,000 crore in April and Rs 26,500 crore in May,” Edited excerpts: What a twist market saw in the week gone by. We retested crucial support levels. What is causing the panic on D-St? Aditya Sood: A month ago, it was widely expected that the ruling party coalition NDA would aim for 400-plus seats. However, the turnout in the first three phases has been slightly lower, which might impact a few constituencies.

Iranian presidents since the early 1980s have in essence been expressions of what the supreme leader thought he needed at the time. Ebrahim Raisi was not only a protégé of Ayatollah Ali Khamenei, but also closer in his purist religious and political views. So it matters that at home — where the future of the regime will ultimately be determined — the man chosen to restore faith in and obedience to the Islamic Revolution failed. Raisi came to power in 2021, claiming that Iran didn’t need a by-then-defunct nuclear deal with the West and could prosper by facing its “resistance economy” squarely to the east. He also quickly imposed a crackdown on female dress codes, in a demonstrative turn to a past where his revolutionary credentials — as “the Butcher of Tehran,” responsible for mass executions of regime opponents in 1988 —were impeccable.

India may soon be followed by larger deals, broadening options for global investors looking to join the nation’s equities frenzy. Citigroup Inc., the top arranger of equity offerings in India this year, sees four to five IPOs of at least $1 billion each over the next year. At least 10 companies are weighing offerings of more than $100 million, according to data compiled by Bloomberg.

State Bank of India has maintained its position and once again declined to share the standard operating procedures (SOPs) given to its branches for the sale and redemption of electoral bonds, reported The Times of India. The bank justified the denial by saying the information sought was held by the bank in "commercial confidence', was the "intellectual property of the bank" and the internal guidelines were strictly meant for the dealing staff. Anjali Bhardwaj, a transparency activist, filed an application on March 4 to request SOPs issued by SBI starting from April 2017. After the bank denied the information on March 30, she decided to appeal to the first appellate authority (FAA) of SBI. Feeling unsatisfied with the response received on May 17 from the FAA, Bhardwaj has now decided to appeal against the denial to the Central Information Commission (CIC).

AAP Rajya Sabha MP Swati Maliwal, who has charged assault allegations against Delhi Chief Minister's aide Bibhav Kumar lashed out at Delhi ministers and AAP leaders for «spreading lies» about "corruption FIR" against her and threatened to file a lawsuit against them. In a post on X, Swati Maliwal claimed that her status in the party changed from «Lady Singham» to "BJP agent" right after she filed a complaint against now-arrested Kumar. «According to them, I was 'Lady Singham' until I filed a complaint against Bibhav Kumar and today I have become a BJP agent? „I will take you to court for every lie you spread!“ Maliwal said in a post on Monday.

‘Lord Jagannath Bhakt of PM Modi’: BJP's Sambit Patra sparks major controversy "This is not possible; no person in his right mind can say that God is a devotee of any human being. The mistake happened unknowingly while giving out bytes to a channel. I agree that the sentiments of some people have been hurt due to my statement, but even the lord forgives a person for committing a mistake unknowingly," said Patra.

Read the full story here.)Sensex Today Live : Indian equity indices, Sensex and Nifty 50, are projected to open on a positive note on Tuesday, influenced by a blend of global indicators. Mixed trends were observed in Asian markets, while the US market mostly closed higher, with Nasdaq reaching a record high due to a tech stock rally preceding Nvidia’s results.Investors’ attention will be on Q4 results, the voter turnout in the current Lok Sabha elections, local and international macroeconomic data, foreign fund outflows, crude oil prices, and other global factors.The Indian stock market concluded a special trading session on Saturday with slight gains, buoyed by positive global indicators.