MODI RALLY TODAY
Nifty Bank rallies over 2,000 points to reclaim 49K; deploy buy-on-dips strategy: Experts
The Nifty Bank opened higher and built on gains throughout the trading session. It witnessed a mild profit taking near its intraday high but closed above 49,000. "The Bank Nifty index saw a sharp recovery from its 200-day moving average, closing above its rising trendline and 21-day EMA,” said Rupak De, Senior Technical Analyst, LKP Securities.
Impact of election results on stock market: Are Modi stocks the best bet?
Stocks related to Prime Minister Modi's policies, known as 'Modi stocks', are gaining attention. These include PSU stocks and those of private companies in sectors like infrastructure, defense, and manufacturing.
Market Meltdown: Rs 30 lakh crore wiped off as poll verdict trend sends Sensex plummeting over 4,300 points
The broader NSE Nifty dropped 1,379 points or 5.93% to end at 21,884. Intraday, the indices fell as much as 8.5%, on track for their worst session since the onset of the Covid-19 pandemic. On Monday, the exit poll euphoria had helped indices jump over 3% on projections that the BJP-led alliance would likely get a two-thirds majority in the lower house. Barring the Nifty FMCG index, all the sectoral indices closed in deep red. Nifty Bank fell 8%, Realty fell 9.6%, PSU Bank fell 15%, while Oil & Gas fell 11.8% and Metal fell 10.6%.
ET Online election results poll: Markets bleed as counting trends show no sign of Modi magic
With investors likely taking a risk-averse stance following result-related uncertainty, Sensex opened over 1,600 points lower today, dragged by heavyweights, leaving investors licking their wounds after losing Rs 9 lakh crore in just 15 minutes. And things got positively worse as the day progressed.
Stocks in news: ZEE, M&M Financial, Dr Reddy's, Wipro, Biocon
Domestic markets rally on exit polls predicting Modi government's massive mandate. ZEE, M&M Financial, Dr Reddy's, Wipro, Biocon in focus. ZEE to discuss fundraising. M&M Financial reports increased disbursements. Dr Reddy's opens biologics facility in Hyderabad. ICICI Bank partners with Adani One for co-branded credit cards with airport-linked benefits. RVNL awarded Rs 440 crore project by South Central Railway.
Rupee logs best intraday rise in over five months
The rupee's strengthening also spurred importer hedging on Monday, which eroded the currency's gains, while traders also cited bids from state-run banks when the local currency rose above 83.
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Modi 3.0 boost! PSU banks soar up to 12% as exit polls signal BJP-led NDA's majority
PSU bank stocks rallied on the BSE after exit polls favoured the BJP-led NDA in the upcoming Lok Sabha election, with significant gains for Bank of Baroda, Indian Overseas Bank, SBI, Canara Bank, and Indian Bank.
PM Modi's 100-day agenda a "political strategy to influence mindset of people,' says DK Shivakumar
Karnataka Deputy Chief Minister DK Shivakumar criticised Prime Minister Modi's 100-day agenda meeting as a "political strategy," expressing confidence in the INDIA bloc securing a majority. Meanwhile, Senior Congress leader Shashi Tharoor remained optimistic about retaining his seat in Thiruvananthapuram despite some exit polls predicting his loss. PM Modi's meetings followed exit polls projecting a significant win for the BJP-led NDA, with expectations of a potential third term for Modi.
If exit polls hold true, these stocks are set to surge under Modi 3.0
Modi stocks are companies or sectors that have benefited directly from government policies and initiatives under PM Narendra Modi, making them attractive to investors looking to capitalize on government-driven growth. CLSA has identified 54 such companies, perceived as direct beneficiaries, half of which are PSUs.
Five past instances when Sensex has rallied as much as today's intraday surge
The benchmark index Sensex jumped 3.76% to exceed the 76,000 mark intraday, hitting an all-time high on Monday. This surge was driven by exit polls predicting Prime Minister Narendra Modi will secure a strong mandate for a third term. Investors are optimistic that Modi's government will continue to strengthen infrastructure and manufacturing, supporting ongoing economic growth. ETMarkets highlighted five past instances where the index's intraday percentage gains were close to, but still lower than, today's significant rally. Historically, the Sensex has experienced an intraday rally of over 3.75% approximately 60 times.
Rahul Gandhi calls exit polls as Modi fantasy polls, asks people to listen Sidhu Moose Wala's 295 song
Despite all exit polls forecasting a significant victory for the BJP-led alliance in the 18th Lok Sabha polls, Rahul Gandhi, after participating in a virtual meeting with Congress leaders, dismissed the exit polls as "Modiji's fantasy poll." Notably, the INDIA bloc delegation is scheduled to convene with the Election Commission today at 4:30 pm at Nirvachan Sadan in New Delhi to strategize for the counting day on June 4.
Congress 'strangled' Constitution during Emergency, says PM Modi
Prime Minister Narendra Modi emphasised the need for a full majority government at the Centre. He said that Guru Ravidas was his inspiration for prioritising the welfare of the poor during a rally in Punjab's Hoshiarpur. He highlighted the country's development over the past decade and expressed his wish for the Adampur airport to be named after Guru Ravidas. Modi criticised the Congress and INDIA bloc, accusing them of neglecting the army and engaging in corruption. Voting for 13 Lok Sabha seats in Punjab will take place on June 1.
PM Modi alleges Naveen Patnaik 'health failing, there is conspiracy'; CM strongly rebuts claims
Prime Minister Narendra Modi and Odisha chief minister Naveen Patnaik, who have had cordial relations for years, sparred with each other on Wednesday after the PM claimed that the latter's health has "deteriorated" and there could be a "conspiracy behind it".
"Public worried about inflation, PM Modi busy creating Hindu-Muslim divide": Priyanka Gandhi Vadra
Addressing an election rally in Chandigarh, Priyanka Gandhi Vadra said, "Public is worried. The youth of the country is unemployed. Women are worried about inflation. Cost of gas cylinders is going high but Narendra Modi is busy creating Hindu-Muslim divide."
During Cong-SP rule, day began with news of scams, ended with terror blasts: Adityanath
The chief minister's remark came during a public meeting at Pipraich in Gorakhpur parliamentary constituency where he was seeking votes for BJP candidate and sitting MP Ravi Kishan Shukla.
Nifty hits record high, Sensex jumps 1,200 points. Is RBI behind the sugar rush?
Nifty hits a record high while Sensex surges 1,200 points, fuelled by RBI's Rs 2.1 lakh crore dividend for the government. Analysts anticipate positive macroeconomic effects, including potential fiscal deficit reduction and infrastructure spending boost.
INDIA bloc parties will undo work done by Modi, claims PM in Uttar Pradesh's Shravasti
Prime Minister Narendra Modi accused the opposition of uniting against him and his work during an election rally in Uttar Pradesh. Modi warned that Congress leader Rahul Gandhi and SP president Akhilesh Yadav would undo his progress if elected. He alleged that the opposition would reverse his policies, cancel the Citizenship (Amendment) Act, and revive Article 370 in Kashmir.
Singapore envoy Simon Wong witnesses PM Modi's public meeting in North East Delhi, calls it 'electrifying'
Singapore High Commissioner Simon Wong praised PM Modi's North East Delhi meeting with BJP flags. Diplomats, including Nepal's Ambassador Shankar P Sharma, attended. Voting for all seven Delhi Lok Sabha seats on May 25. Lok Sabha elections in 7 phases from April 19 to June 1, results on June 4.
Congress, SP will run bulldozer over Ram temple if voted to power: PM Modi
Asserting that his government is going to score a hat-trick, Modi said in the new government, he has to take many big decisions for the poor, youth, women and farmers, and for that he has come here to seek the blessings of the people of Barabanki and Mohanlalganj.
People united against divisive and appeasement policies of Congress and INDI alliance, says UP CM Yogi Adityanath
Uttar Pradesh CM Yogi Adityanath, addressing a rally in Barabanki, said that people are against Congress and INDI alliance's divisive policies. He highlighted PM Modi's vision of 'Aatmanirbhar' and 'Viksit Bharat'. Modi, at the rally, praised BJP's development efforts in Uttar Pradesh, promising pucca houses for the poor. Barabanki will vote on May 25, with RajrRawat of BJP and Tanuj Punia of Congress as candidates.
SP, Cong want to try out 'TMC politics' in UP: PM Modi in Bhadohi
PM Modi criticized the Samajwadi Party and Congress for experimenting with 'Trinamool politics' in Bhadohi, warning against its violent and discriminatory nature. He highlighted the dangers of appeasement, terrorism, and extremism in politics, urging for a strong stance against such threats.
BJP petitions EC against Rahul Gandhi's remarks on Army
The BJP has urged the Election Commission to take strict action against Rahul Gandhi for his remarks accusing the Modi government of creating two categories of soldiers based on family backgrounds. Senior BJP leaders, including S Jaishankar and Arjun Ram Meghwal, lodged a complaint with the EC, calling Gandhi's comments an attack on the armed forces and a matter of national security. They demanded that Gandhi retract his comments and warned against politicizing issues related to the military. Jaishankar criticized Gandhi for previous remarks against the armed forces, emphasizing the need to respect and support them.
PM 'failed' India's daughters: Congress jabs PM Modi ahead of UP rallies
Congress's Jairam Ramesh criticizes PM Modi for giving Lok Sabha ticket to son of MP facing sexual harassment charges. Questions safety of women in 'Modi's India'. Highlights delays in Jaunpur medical college completion by Akhilesh Yadav, Yogi's role, and criticism of the 'Double-Engine' government.
PM Modi arrives in Bhubaneswar, to hold public rallies in Brahmapur, Nowrangpur today
Prime Minister Narendra Modi arrived in Bhubaneswar for an election campaign, with plans to hold rallies in Brahmapur and Nowrangpur in Odisha. The Odisha Police have heightened security measures for his visit. BJP national president JP Nadda also arrived in Odisha and released the party's manifesto, pledging to end corruption in the state. Nadda highlighted the shift in politics under Modi's leadership, focusing on performance and transformation. He criticized non-BJP governed states for their approach to governance and praised Modi's welfare initiatives.
Pakistan wants Congress back in power in India, says Modi at Gujarat rally
Modi targeted the UPA 2 government saying that it gave "dossiers" to terrorists. "The weak Congress government used to give dossiers to the masters of terror. But, Modi's strong government kills terrorists on their ground," the PM said.
PM Modi to hold election campaigns in Tamil Nadu, Maharashtra today
Prime Minister Narendra Modi is campaigning for BJP candidates in Tamil Nadu and Maharashtra, ten days ahead of the first phase of the Lok Sabha elections. He will address a public meeting in Vellore to support two partners in the National Democratic Alliance (NDA) - Pattali Makkal Kachi's Dharmapuri candidate Soumya Anbumas and the New Justice Party's Vellore candidate AC Shanmugam.
PM Modi holds roadshow in Ghaziabad
Prime Minister Narendra Modi held a roadshow in Ghaziabad, Uttar Pradesh, to support BJP candidate Atul Garg. The event, his first in the state since the announcement of the Lok Sabha polls, began from Maliwad Chowk and concluded at Chaudhary Mod. The district administration made security arrangements, including personnel and traffic diversions.
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