Spirituality Necessary To Make One Responsible: Dharmendra Pradhan

Among the Nifty companies, 29 were advancing while 21 were declining. Hindustan Unilever, Britannia, BPCL, ITC, and Coal India led the gains, while Bajaj-Auto, Power Grid, Cipla, Divi's Lab, and JSW Steel were the top decliners.

Market expert Ajay Bagga attributed the positive opening to the strong corporate earnings in the US and enhanced rate cut expectations following a subdued April Jobs Report.

He noted that Asian markets also opened positively, setting the stage for a mildly positive start in India. However, Bagga highlighted the trend of afternoon FII selling, which has been limiting significant upward movements in the Indian markets.

Bagga said, "US markets finished the session at the days high on the back of continued strong corporate earnings and enhanced rate cut expectations following last weeks subdued April Jobs Report. Asian markets opened positive in a continuation trade.

Indian futures are indicating a mildly positive start. However the last few days trend has been a mildly positive opening in India based on good global cues followed by FII selling in the afternoon."

He added, "FII selling is sustaining for now and is not allowing Indian markets to cross significant levels on the upside. For now expect range bound price action , with stocks moving on their earnings announcements."

Currently, Nifty is positioned around the support levels of 22,400 - 22,300, with a short-term negative trend. Analysts suggest the possibility of an upside bounce as long as the support at 22,300 holds, but a breach of this level could lead to further weakness in the short term.

Analyzing the Nifty Open Interest (OI) Data, the highest OI on the call side was observed at 22,500 and 22,700 strike prices, while on the put side, the highest OI was at 22,500 strike price.

Meanwhile, Asian stocks saw marginal gains, with Japan's Nikkei 225 surging up to 1.6% and Australian equities also showing positive movements.

The yen depreciated after Japan's top currency official, Masato Kanda, suggested no immediate need for government intervention in the market.

Optimism surrounding China's supportive policies and expectations for a continuation of economic policies in India under Prime Minister Narendra Modi's potential third term contributed to the positive sentiment in global equity markets.

Varun Aggarwal, founder and managing director, Profit Idea, said, "Optimism surrounding China's supportive policies and expectations for a continuation of economic policies in India under Prime Minister Narendra Modi's potential third term are contributing to the positive sentiment in global equity markets. Oil prices rose, while US stock futures remained steady amidst developments in the Israel-Gaza conflict."

Oil prices rose, while US stock futures remained steady amidst developments in the Israel-Gaza conflict.

In the US, investors analyzed remarks from various Fed officials regarding interest rate trajectories, while Australia's central bank is expected to maintain its key interest rate with a reinstated hawkish bias.

Overall, the backdrop for stocks remains favorable, driven by healthy profit growth, potential Fed rate cuts, and increased investment in artificial intelligence.

(ANI)

Read Business News

Nine parliamentary seats- Morena, Bhind, Gwalior, Guna, Sagar, Vidisha, Bhopal, Rajgarh and Betul- are undergoing polling in the third phase of LS polls on May 7 from 7 am in the state.

Of these, Rajgarh is leading the voter turnout charts with 16.57 per cent voting followed by Guna 16.43 per cent, Betul 15.97 per cent, Vidisha 15.85 per cent, Sagar 14.58 per cent, Bhopal 13.61 per cent, Gwalior 12.75 per cent, Morena 12.43 per cent and Bhind 12.23 per cent till 9 am so far in the state.

Earlier in the second phase of voting on April 26, the state recorded 13.82 percent voting till 9 am and the final voter turnout stood at 58.59 per cent in the second phase of polling in the state.

Meanwhile, women in Vidisha parliamentary constituency were seen arriving in large numbers to vote along with singing folk songs in the festival of democracy.

MP Chief Minister Mohan Yadav appealed to the public to exercise their franchise in the third phase of polling saying voting is our constitutional right.

CM Yadav told ANI, "Today, there is polling for nine Lok Sabha seats going on in the state and I appeal to all voters to cast their vote in large numbers. Voting is our constitutional right and it strengthens democracy. Madhya Pradesh is a land of peace. All arrangements are in place, voting is going on peacefully."

Lok Sabha polls in Madhya Pradesh are being conducted in four phases. The first phase of polling was held on April 19 and the second phase was concluded on April 26.

The fourth, which is the last phase of LS polls in the state, will be held on May 13. The counting of votes will be held on June 4.

With 29 Lok Sabha constituencies, Madhya Pradesh ranks sixth among all states in terms of its representation in the Lower House. Of these, 10 seats are reserved for SC and ST candidates, while the remaining 19 are unreserved.

(ANI)

Read National News

He was accompanied by his son, Jay Shah, who is the secretary of the Board of Control for Cricket in India (BCCI) and other family members

Before casting his vote, Home Minister Amit Shah paid a visit to the Kameshwar Mahadev temple in Ahmedabad.

Earlier, in the morning, the Home Minister posted in several languages, urging people to vote. He said, "In the third phase of the Lok Sabha Election, I appeal to all the voters who are going to cast their votes today to accept voting as a duty towards contributing to nation-building. Once again, vote for a corruption-free, caste-free, and dynasticism-free system. Elect a government that has experience in public welfare and a blueprint for a developed India. Your vote will lay the foundation of good fortune for not only you but also for the entire nation for decades to come."

Several prominent figures have already exercised their voting rights, including Uttar Pradesh Governor Anandiben Patel, Gujarat Chief Electoral Officer IAS P. Bharati, AAP candidate and tribal leader Chaitar Vasava, Congress candidate Geniben Thakor from Banaskantha, AAP candidate Anant Patel from Valsad, BJP leader Arjun Modhwadia, and BJP MLA Rivaba Jadeja from Jamnagar.

Gujarat Chief Minister Bhupendra Patel said, “I hope there is a huge voter turnout for our Home Minister Amit Shah’s constituency in Gandhinagar.” CM Patel voted at booth 99 in Shilaj Primary School, Ahmedabad, representing the Gandhinagar Lok Sabha seat.

BJP Porbandar candidate Arjun Modhwadia, who recently switched from Congress to BJP said, “This is the first time I see huge queues in the morning, as early as 7 a.m. I see a lot of hope in this election. We are building a bright future.”

Gujarat cabinet minister Kanu Desai said, “Today I see a lot of women at the booth. This is a win for women's power in the State. Women using their right to vote indicates a developed society.”

In Gujarat, a substantial electorate of 4.97 crore voters, comprising 2.56 crore males, 2.41 crore females, and 1,534 individuals from the third gender, are engaging in the democratic exercise across 50,788 polling booths.

The constituencies include Kachchh, Banaskantha, Patan, Mahesana, Sabarkantha, Gandhinagar, Ahmedabad East, Ahmedabad West, Surendranagar, Rajkot, Porbandar, Jamnagar, Junagadh, Amreli, Bhavnagar, Anand, Kheda, Panchmahal, Dahod, Vadodara, Chhota Udaipur, Bharuch, Bardoli, Navsari, and Valsad.

Important candidates in this electoral fray include Union Home Minister Amit Shah contesting from Gandhinagar, Union Minister and former Gujarat Minister Parshottam Rupala from Rajkot, Union Health Minister Mansukh Mandaviya from Porbandar, State BJP Chief CR Paatil from Navsari, and a significant battle between BJP's Mansukhbhai Vasava and AAP's Chaitra Vasava in Bharuch.

(IANS)

Read More Election News