Massive jump in stock market after exit polls predict big BJP win; Adani Ports, Adani Enterprises among top performers

News Network
June 3, 2024

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The share market has posted a massive jump in the early trade, banking on the hopes of political stability as predicted by the exit polls. The 30-share Sensex rallied over 2,000 points this morning while the 50-stock Nifty recorded its biggest jump in four years during the market opening.

Both Sensex and Nifty, the indexes of the Bombay Stock Exchange and the National Stock Exchange, hit their record high levels today. All Sensex and Nifty stocks are now in the green.

At pre-open, Nifty surged over 800 points or 3.58% to 23,227.90 while the Sensex jumped 2,621.98 points or 3.55% to 76,583.29.

Adani Ports, Adani Enterprises, Power Grid, Shriram Finance, and NTPC are among the top performers that led the market rally with significant gains. The latest GDP data suggesting a robust 8.2% fiscal growth also bolstered the market sentiment. 

"Buoyant sentiments are driven by India's impressive Q4FY24 GDP growth of 7.8 per cent, surpassing expectations, with the fiscal year's growth standing at 8.2 per cent," said Varun Aggarwal, founder and managing director of Profit Idea. He also cautioned that the market will remain volatile in anticipation of the results pending tomorrow.

An aggregate of 12 exit polls on Saturday predicted the BJP will return to power with the ruling NDA alliance with 365 seats. A party or an alliance needs at least 272 seats to form government in the country. The market prefers political stability and a change in government usually risks volatility in the share market, according to analysts. 

The exit polls have also predicted that the BJP is set to break ground in Kerala and Tamil Nadu in the south, and make large gains in Odisha and Bengal in the east. There is, however, a health warning: exit polls do not always get it right. 

While the BJP has welcomed the exit poll predictions, the Opposition has dismissed the forecast and said the counting day will throw a completely different picture. Following a meeting of the Opposition leaders part of the INDIA bloc, Congress chief Mallikarjun Kharge Saturday said that the bloc will win at least 295 seats out of the total 543.

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News Network
December 13,2024

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Minister of military affairs Israel Katz has ordered Israeli troops to "prepare to remain" throughout the winter in Syria including the strategic Jabal al-Shaykh mountain which they occupied after the fall of President Bashar al-Assad. 

In an announcement on Friday, Katz said he had issued the order during an assessment the previous day with the Israeli army's chief of staff Herzi Halevi, and other officers.

"Due to the situation in Syria, it is of critical security importance to maintain our presence at the summit of Mount Hermon [Jabal al-Shaykh], and everything must be done to ensure the (army's) readiness on-site to enable the troops to stay there despite the challenging weather conditions," he said.

Israel started its push to grab more Syrian land on Sunday, after foreign-backed militants led by Hay'at Tahrir al-Sham (HTS) announced the fall of President Assad’s government following a rapid two-week onslaught.

Israeli forces seized the so-called buffer zone, which separates the occupied Golan Heights from the rest of Syria, in violation of a 1974 disengagement agreement. The occupation forces have entered several towns in Quneitra, forcibly evacuating residents. 

They occupied the summit of Jabal al-Shaykh which provides an observation point for areas in Syria and Lebanon. It rises to 9,232 feet (2,814 meters) and is the highest point on the east coast of the Mediterranean Sea.

Israeli troops have advanced beyond the so-called buffer zone toward Damascus, with the regime's warplanes conducting hundreds of aerial assaults on Syria.

Katz had earlier said that the regime was planning a "sterile defense zone" in southern Syria. Several regional countries said Israel is taking advantage of the chaotic situation in Syria to expand its occupation of the Arab state.

Israeli soldiers entered the town of al-Hurriya in Quneitra province on Thursday. Local sources said Israeli forces also carried out a forced evacuation of the residents of the village of Rasem al-Ruwadi in the region. 

On Wednesday evening, Israeli forces stormed the towns of Ruwaihinah and Umm Batna in the central countryside of Quneitra as well.

Residents of the town said the occupying regime forces asked them to evacuate their homes to annex them to the so-called buffer zones. The incursion involved tanks and infantry units, during which several houses were searched. 

Many Syrians and others watching the fast-moving pace of events say Netanyahu is using this moment of change in their country to permanently seize further territory.

“They are saying they will give it back, but they are already occupying the Golan Heights which they haven’t given back. What would make you believe they will give this back?” Haid Haid, a senior consulting associate fellow at Chatham House, told Middle East Eye. 

Israel has wiped out Syrian naval vessels, sea-to-sea missiles, helicopters and planes, including the entire fleet of MiG-29 fighter jets and stockpiles of ammunition in attacks on at least five air bases.

Reports say Israel and militant groups in Syria have previously come to successful arrangements whereby Israel provided emergency aid and medical care to militants so long as the groups did not attack the Zionist regime.

In a note to correspondents issued on Thursday, United Nations Secretary General Antonio Guterres said he is "deeply concerned" over "extensive violations" of Syrian sovereignty.

The UN chief also said he is "particularly concerned over the hundreds of Israeli airstrikes on several locations in Syria." 

He further stressed that the 1974 Disengagement of Forces Agreement between Israel and Syria “remains in force” and that it must be upheld by "ending all unauthorized presence in the area of separation and refraining from any action that would undermine the ceasefire and stability in Golan.”

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News Network
December 16,2024

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In a significant milestone, the Dakshina Kannada Zilla Panchayat Higher Primary School in Newpadpu, Harekala, has introduced a bilingual Kannada-English medium this academic year, a move spearheaded by Padma Shri awardee Harekala Hajabba. The school has so far received 13 admissions for its Class 1 bilingual program.

This initiative is part of a broader effort by the state government, which approved 38 schools across the district to launch bilingual mediums. Expressing his delight, Hajabba shared that he had been advocating for a bilingual school for years. "The bilingual medium will greatly benefit students in this region who otherwise rely on private schools. However, we currently face a shortage of classrooms. Construction of two additional classrooms is underway, and once completed, we expect higher admissions," he said.

The school had previously been permitted to introduce LKG and UKG classes in the last academic year. According to the school’s headmistress, Rajeshwari, while the pre-primary sections have seen good enrolment, the bilingual Class 1 faced challenges, securing only 13 students. She attributed this to the late notification of permission, which arrived a month after the academic year began, leading many children to enroll elsewhere.

Rajeshwari remains optimistic about the future. "We expect better admissions next academic year as awareness about bilingual education at this government school grows," she said, adding that the classroom shortage will soon be addressed.

Deputy Director of Public Instruction (DDPI) Venkatesha Subraya Patagara noted that bilingual schools across Dakshina Kannada have generally received a positive response, with some schools enrolling more than 100 students. The effort to offer bilingual education in government schools marks a step forward in providing affordable, quality education to underserved regions.

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News Network
December 10,2024

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The Israeli military has occupied several villages south of Damascus, with its tanks now being stationed around 20 kilometers from the outskirts of the Syrian capital, a new report says.

Lebanon's al-Mayadeen television network reported on Tuesday that the Israeli tanks have moved past the southwestern Syrian city of Quneitra and reached 3 kilometers away from the town of Qatana, near Damascus. 

Israel started the push to expand its occupation of Syria on Sunday, after foreign-backed militants, led by Hay'at Tahrir al-Sham (HTS), announced the fall of Syrian President Bashar al-Assad’s government following a rapid two-week offensive that led to the capture of Damascus.

Israeli forces seized the buffer zone that separates the occupied Golan Heights from the rest of Syria in violation of a 1974 disengagement agreement between the Tel Aviv regime and Syria.

They also captured the strategic Mount Hermon in Golan, which provides high ground for the entire area.

Israeli prime minister Benjamin Netanyahu said that the Syrian Golan Heights will remain part of the occupied territories “for eternity.”

Israel's exploitation of the current chaotic situation to deploy its occupation forces to Syria has drawn condemnations from regional countries.

“We condemn the fact that Israel has entered Syrian territory and taken control of the buffer zone,” Jordanian Foreign Minister Ayman Safadi said.

Similarly, Saudi Arabia’s Foreign Ministry said, "The seizure of the buffer zone in the Golan Heights … confirms Israel’s continued violation of the rules of international law, and its determination to sabotage Syria’s chances of restoring its security, stability and territorial integrity.”

Meanwhile, Israeli media reported that the regime has carried out nearly 300 air raids on Syria over the past two days.

They added that if the aerial assaults continue at their current pace, the Syrian Air Force will be all but destroyed in a matter of days.

New Israeli strikes hit the Syrian city Salamiyah, in the eastern countryside of Hama Province, as well as military installations north of Raqqah, and the Shayrat air base in Homs' countryside.

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