Stock Market Highlights on June 5, 2024: The broader markets outperformed the benchmarks with the BSE MidCap, and SmallCap indices rising 4 per cent and 2.9 per cent, respectively
The vote shares of both the BJP and Congress have increased by over one per cent in the Lok Sabha elections in Assam, according to EC statistics. The vote share of the saffron party, which bagged nine of the 14 Lok Sabha seats in the state, increased by 1.02 per cent from 36.41 per cent in 2019 to 37.43 per cent in 2024, while that of Congress, which secured three constituencies, rose by 1.69 per cent from 35.79 per cent in the previous elections to 37.48 per cent this time. The overall vote share of the NDA, which won 11 seats in Assam, however, registered a marginal dip of 0.45 per cent. The vote share of NDA ally Asom Gana Parishad (AGP), which managed to win a Lok Sabha seat after 10 years, declined to 6.46 per cent in 2024 from 8.31 per cent in 2019. The NDA's other constituent in Assam, the United People's Party Liberal (UPPL), opened its account in the Lok Sabha by winning Kokrajhar seat, garnering 2.43 per cent vote share in the state. The AIUDF suffered the biggest loss w
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China on Wednesday congratulated Prime Minister Narendra Modi on the victory of the BJP-led NDA coalition in the general elections and said it stands ready to work with India bearing in mind the overall interests of bilateral ties. The Election Commission of India has declared results for all Lok Sabha constituencies, with the Bharatiya Janata Party (BJP) winning 240 of the 543 seats and the Congress 99. The BJP-led NDA is comfortably above the majority mark of 272 in the 543-member Lok Sabha, the BJP has fallen short of the magic number for the first time since 2014. "We noted the results of India's general election and extend congratulations on the victory of BJP led by Prime Minister Narendra Modi and NDA," Chinese Foreign Ministry spokesperson Mao Ning said. A sound and stable India relationship is conducive to the interests of both the countries and conducive to the peace and development in the region and beyond, she told a media briefing here answering questions on the outcom
The BJP-led National Democratic Alliance's (NDA) slim majority in Lok Sabha may delay more far-reaching economic and fiscal reforms that could impede progress on fiscal consolidation, Moody's Ratings said on Wednesday. NDA securing a majority in the general elections will give a historic third term for Narendra Modi as Prime Minister of India. "We expect policy continuity, especially with regards to budgetary emphasis on infrastructure spending and boosting domestic manufacturing, to support robust economic growth. "However, the NDA's relatively slim margin of victory, as well as the BJP's loss of its outright majority in parliament, may delay more far-reaching economic and fiscal reforms that could impede progress on fiscal consolidation," Moody's said in a note. India's fiscal outcomes will remain weaker than Baa-rated peers, even as the final budget for the fiscal year ending March 2025 (fiscal 2024-25) to be released in the next few weeks provides some indications of India's ..
The Congress on Wednesday took a swipe at the BJD and YSRCP after they suffered crushing defeats in the assembly and Lok Sabha polls, saying that from the BJP's "B-teams" they have become the "has-been" teams. The BJP on Tuesday stormed to power in Odisha by dethroning the BJD which has been in power for the last 24 years. The BJD drew a blank in the Lok Sabha polls. The Y S Jagan Mohan Reddy-led YSRCP suffered a crushing defeat in the assembly polls in Andhra Pradesh at the hands of the Chandrababu Naidu-led TDP in the assembly polls. The YSRCP secured just four seats in the Lok Sabha polls. Congress general secretary Jairam Ramesh said, "Over the past ten years, the BJD was the B-team of the BJP in Parliament. It supported Mr. Modi on every issue." "Over the past ten years, YSRCP was another B-team of the BJP, which supported Mr. Modi on every issue. From B-teams, they have become the has-been teams," Ramesh said. This is what happens to regional parties who place their trust in
India's benchmark 10-year bond yield saw its biggest surge in eight months following the poll outcome
Small-town India has not seen the sort of revolution in infrastructure that cities of equivalent size in China or Southeast Asia have enjoyed over recent decades, writes Mihir Sharma
Five candidates, including four from the BJP and one from Congress, broke all previous records for the highest victory margin in a Lok Sabha election
Senior leaders of the BJP-led National Democratic Alliance (NDA) are likely to meet on Wednesday to take stock of the Lok Sabha poll results and deliberate on the details of government formation. JD(U) leader and Bihar Chief Minister Nitish Kumar and Telugu Desam Party president N Chandrababu Naidu, who is set to become the next Andhra Pradesh chief minister, will attend the meeting where top leaders of the BJP and its other allies are also expected to be present, sources said. They are expected to congratulate Prime Minister Narendra Modi, who is set for a record-equalling third term at the helm, and discuss with him the details of the new government, which is likely to be different in composition and character with a bigger share for the BJP's allies. While the NDA is comfortably above the majority mark of 272 in the 543-member Lok Sabha, the BJP has fallen short of the magic number for the first time since 2014 and is critically dependent on its allies for government ...
Fiscal discipline has been a hallmark of Modi's decade-long administration, and many investors were expecting him to win a supermajority to reduce the budget deficit
The Election Commission of India has declared results for 542 of the 543 Lok Sabha constituencies, with the BJP winning 240 seats and the Congress 99. The result for the Beed constituency in Maharashtra -- where the NCP (Sharad Pawar) candidate Bajrang Manohar Sonwane is leading the BJP's Pankaja Munde -- is still awaited. While the Lok Sabha has 543 members, counting was held for 542 seats after the BJP's Surat candidate Mukesh Dalal was elected unopposed. According to the results declared early on Wednesday, Prime Minister Narendra Modi is poised to form the government for a third consecutive term with the BJP-led National Democratic Alliance (NDA) getting a majority in the Lok Sabha, notwithstanding crushing losses in three Hindi heartland states after a bitterly fought election that was projected as a referendum on his popularity. The BJP, whose candidates contested in the name of Modi, won in 240 seats, falling short of the 272 majority mark and needing the support of allies i
At least five candidates, including four from the BJP, crushed the previous record for the highest victory margin in the Lok Sabha elections, with Indore's incumbent MP Shankar Lalwani of the BJP topping the list with a winning margin of 11.72 lakh votes. The Congress' Rakibul Hussain scored the second-highest victory margin with 10.12 lakh from Dhubri in Assam. Former Madhya Pradesh chief minister Shivraj Singh Chouhan won from Vidisha by 8.21 lakh votes -- the third highest margin -- followed by the BJP's CR Patil, who recorded a margin of 7.73 lakh from Navsari in Gujarat. Union Home Minister Amit Shah won from Gandhinagar by a margin of over 7.44 lakh votes. The previous record for the highest winning margin was held by Pritam Munde, also from the BJP, who had won a bypoll in October 2014 from Beed in Maharashtra by more than 6.96 lakh votes. Patil, a three-term MP from Navsari, held the record for the second-highest margin after he won by 6.89 lakh votes in 2019. He has now
Congress' Amethi Lok Sabha candidate Kishori Lal Sharma has emerged as a giant slayer by defeating sitting BJP MP and Union Minister Smriti Irani by a margin of over 1.5 lakh votes. Interestingly, Irani was dubbed a giant slayer in 2019 after she defeated Rahul Gandhi from the seat in the last general elections. According to Election Commission data, while Sharma got 5,39,228 votes, Irani managed to get 3,72,032 votes. In West Bengal's Baharampur seat, first-time contender Yusuf Pathan of the Trinammol Congress secured a comfortable victory over Adhir Ranjan Chowdhury in the Congress veteran's Baharampur bastion. The former India cricketer beat the Congress' Leader in the 17th Lok Sabha and six-time MP by 85,022 votes. In Uttar Pradesh, Union Minister and two-time MP from Kheri, Ajay Kumar Teni, lost to Samajwadi Party's (SP) Utkarsh Verma Madhur by 34,329 votes. Another big upset in the state was the defeat of senior BJP leader and former Union minister Maneka Gandhi in the Sult
BJP's poll debutant Yogendra Chandoliya trounced Congress' Udit Raj by over 2.90 lakh votes in the North West Delhi Lok Sabha seat, registering the highest victory margin among the seven winning candidates of the party in the national capital. In 2019, BJP's candidates won by margins ranging from over 2.28 lakh votes to 5.78 lakh votes. But this time, three of the candidates, including late BJP leader Sushma Swaraj's daughter Bansuri Swaraj, won by a margin of less than a lakh votes while only Chandoliya breached the two-lakh mark. Swaraj recorded the lowest victory margin among all the candidates. A first-timer, she was fielded by the BJP in place of outgoing MP and Union Minister Meenakshi Lekhi, and defeated AAP's Somnath Bharti by over 78,000 votes. Lekhi won the seat twice in a row in 2014 and 2019 by margins of 2,56,504 and 1,62,708 votes respectively. New Delhi is the smallest parliamentary constituency in the city in terms of the number of voters which is 15.25 lakh. Apa
Compared with 52 seats in 2019, the party's tally looks set to increase to 99 this time, with 77 seats won already and substantial leads on 22 at the time of going to press
The trends defied most of the exit polls that had put the BJP ahead of the TMC
The TDP had won only 23 seats and the Jana Sena only one seat during the last assembly polls
Benchmark indices slip 6% in worst results day decline at least since 1999
A look at key Lok Sabha constituencies that sprung a surprise in the 2024 polls