Markets rebound in early trade; Sensex jumps 1,028 points
Mumbai(PTI): Benchmark indices bounced back in early trade on Tuesday after falling in the previous trade amid positive trends in global equity markets.
The 30-share BSE Sensex jumped 1,028.28 points to 57,817.09 in early trade. The broader NSE Nifty rallied 320.3 points to 17,207.65.
Among the 30-share Sensex pack, IndusInd Bank, Bajaj Finance, Larsen & Toubro, State Bank of India, Axis Bank, ICICI Bank, HDFC, Tata Consultancy Services, Tata Steel and Bajaj Finserv were the major winners in early trade.
Power Grid traded lower. Elsewhere in Asia, markets in Seoul and Tokyo were trading higher. The US markets ended significantly higher on Monday.
The BSE benchmark had tumbled 638.11 points or 1.11 per cent to settle at 56,788.81 on Monday. The Nifty fell by 207 points or 1.21 per cent to end at 16,887.35.
Meanwhile, the international oil benchmark Brent crude futures climbed 0.53 per cent to 89.33 per barrel.
Foreign institutional investors turned buyers after remaining net sellers in the recent past and bought shares worth Rs 590.58 crore on Monday, according to data available with BSE.
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NDA sweeps bypolls to four assembly segments in Bihar
Patna (PTI): The ruling NDA in Bihar on Saturday swept the bypolls to four assembly segments, retaining Imamganj and wresting from the INDIA bloc Tarari, Ramgarh and Belaganj, receiving a boost ahead of the assembly elections due next year.
Candidates of the Jan Suraaj, floated recently by former political strategist Prashant Kishor with much fanfare, lost deposits in all but one seat, in a clear indication that the fledgling party, despite claims of taking the political landscape in the state by storm, needs to cover much ground.
The biggest setback for the INDIA bloc, helmed by the RJD, came in Belaganj, a seat the party had been winning since its inception in the 1990s, but this time lost to the JD(U) headed by Chief Minister Nitish Kumar, the arch-rival of its founding president Lalu Prasad.
The JD(U) candidate Manorama Devi, a former MLC, defeated by a margin of more than 21,000 votes RJD’s Vishwanath Kumar Singh who made his debut from a seat that fell vacant upon election to Lok Sabha of his father Surendra Prasad Yadav, a multiple term MLA.
The margin of victory was greater than the 17,285 votes polled by Mohd Amjad of Jan Suraaj, whom the RJD may have liked to blame for its defeat by causing a split in Muslim votes.
JD(U) national spokesman Rajiv Ranjan Prasad said, "The people of Bihar deserve kudos for rejecting the negativity of the opposition and reposing their trust in Chief Minister Nitish Kumar. Under his leadership, the NDA will win more than 200 seats of the 243-strong assembly in 2025."
The RJD also suffered an embarrassing defeat in Ramgarh, where Prashant Kishor’s prediction of the party “finishing third or fourth” came true. The forecast had caused Sudhakar Singh, son of state RJD president Jagadanand Singh, the MP from Buxar who had won the assembly seat in 2020, to threaten that Jan Suraaj cadres in the constituency will be “beaten up with sticks”.
Singh’s younger brother Ajit finished a distant third after BJP winner Ashok Kumar Singh, a former MLA, and Satish Kumar Singh Yadav who fought on a ticket of the BSP, which has little foothold in Bihar.
Jan Suraaj, though, was hardly a factor in Ramgarh, where its candidate Sushil Kumar Singh polled less than four per cent votes.
The BJP also pulled off a stunning victory in Tarari, which falls under the Arrah Lok Sabha seat, currently represented by CPI(ML)’s Sudama Prasad, who had won the assembly segment for two consecutive terms.
CPI(ML) candidate Raju Yadav lost, by a margin of a little over 10,000 votes, to BJP debutant Vishal Prashant, better known as the son of local strongman Sunil Pandey, who was formerly with the JD(U) and had joined the saffron party a few months ago.
Jan Suraaj had initially announced that it was fielding a former Vice Chief of the Army in Tarari but later disclosed that he could not contest because of technical reasons. Its candidate Kiran Singh got less than four per cent votes.
The most respectable performance from Jan Suraaj came in the reserved Imamganj seat where its candidate Jitendra Paswan stood third, polling well over 20 per cent votes.
The seat, however, went to Deepa Kumari, daughter-in-law of Union minister Jitan Ram Manjhi, who defeated RJD’s Raushan Kumar by a slender margin of less than 6,000 votes.
Manjhi, who heads the Hindustani Awam Morcha, vacated Imamganj earlier this year upon getting elected to Lok Sabha from Gaya.
With the exception of Ashok Singh in Ramgarh, the winners in all the seats shall be making their debut in the state assembly.
