2023 assembly election in Karnataka will be my last: H D Kumaraswamy
Mysuru, Oct 12: JD(S) leader H D Kumaraswamy on Tuesday said that the 2023 assembly elections in Karnataka will be his last, and sought an opportunity from the people to independently run a government for five years, so as to implement programmes for the larger public good.
"I have been the Chief Minister twice with your blessings. I have decided that the 2023 assembly election will be my last fight. It is not for me to come to power or become the Chief Minister. With the blessings of God, I have already been Chief Minister twice, despite not having a majority," Kumaraswamy said.
Speaking to party workers and the public, he sought their blessings and support in bringing JD(S) to power independently, for implementing 'Pancharatna', the five fold programme envisaged by him that include quality education, health, housing, farmer welfare and employment.
"I'm marching ahead with a challenge...I request you with folded hands to give us (JDS) an opportunity to run an independent government in this state for five years. I seek your blessings," the former Chief Minister added.
JD(S) has already announced "mission 123" (winning 123 seats in the 224 member assembly) to bring the party to power, after the 2023 assembly polls.
Pointing at farm loan waiver announced by him as Chief Minister of the Congress-JD(S) coalition government and a beneficiary farmer from Hangal inviting him for his housewarming ceremony, Kumaraswamy said... "but our farmers forget Kumaranna (as he is popularly called) while voting, this is the situation we are in."
"Give one opportunity to the party you have nurtured, bless us to form a government on our own strength, believing in me....If I don't live up to my words on implementing Pancharatna, I will never come to you again, seeking votes for my party. Test us, you have seen both BJP and Congress," he added.
Kumaraswamy had headed a coalition government with both national parties in the past, for 20-months with BJP from February 2006 and with Congress for 14-months after the May 2018 assembly polls.
Earlier in the day, speaking to reporters, the JD(S) leader claimed that the recent Income Tax raids specifically on a person who is said to be former CM B S Yediyurappa's Personal Assistant and Water Resources department related contractors, was an attempt by the BJP to "control" Yediyurappa, following his alleged late night meeting with Congress leader Siddaramaiah.
"Anyone with the slightest understanding of politics can understand that the recent IT raids were for what reasons....IT raids were with a political motive...it is to control or checkmate Yediyurappa...as both (Siddaramaiah and Yediyurappa) had a late night meeting about political developments, and the BJP that has government both at Centre and state got to know about it from their sources, and probably have tightened things," he said.
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Sensex, Nifty end higher after volatile trade as India avenges Pahalgam attack
Mumbai, May 7 (PTI): Benchmark stock indices Sensex and Nifty closed higher in a volatile session on Wednesday as India launched missile strikes on terrorist hideouts in Pakistan and Pakistan-Occupied Kashmir.
After gyrating between gains and losses during the day, the 30-share BSE Sensex ended 105.71 points or 0.13 per cent higher at 80,746.78. The index opened sharply down by 692 points and fell further to hit a day's low of 79,937.48 in early trade.
However, buying in private banks and select auto shares such as Tata Motors helped the barometer recover most of the losses and hit a high of 80,844.63 later.
The 50-issue Nifty of NSE advanced by 34.80 points or 0.14 per cent to settle at 24,414.40. Nifty moved between a high of 24,449.60 and a low of 24,220 during the session.
Broader markets also recouped intraday losses and closed higher by more than a per cent. Sectoral indices closed mixed as auto, realty, and metal sectors advanced while pharma and FMCG ended in the red.
"Geopolitical tensions, following India’s military response to a terrorist attack, triggered a gap-down opening. However, a swift recovery helped the indices edge higher by the close," Ajit Mishra – SVP, Research, Religare Broking Ltd said.
In retaliation for the Pahalgam terror attack, Indian armed forces carried out missile strikes early Wednesday on nine terror targets in Pakistan and Pakistan-Occupied Kashmir including the Jaish-e-Mohammad stronghold of Bahawalpur and Lashkar-e-Taiba's base Muridke.
The military strikes were carried out under 'Operation Sindoor' two weeks after the massacre of 26 civilians in Jammu and Kashmir's Pahalgam.
"Even as the country is in the middle of a military action against terrorist network across the border, markets witnessed gyration during intra-day trade but eventually managed to shrug off the uncertainty to end slightly higher. While the mood will be of caution due to Indo-Pak war tension, markets could witness choppy sessions with stock-specific activity over next few days," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
From the 30-share Sensex firms, Tata Motors jumped the most by 5.05 per cent as India and the UK sealed a trade deal to reduce duties on most traded goods. The trade deal will make it easier for British firms to export whisky, cars, and other products to India.
Bajaj Finance, Eternal, Adani Ports, Tata Steel, HDFC Bank, Kotak Bank, ICICI Bank, Titan, Mahindra & Mahindra and Power Grid were among the gainers.
Asian Paints, Sun Pharma, ITC, Nestle, Reliance Industries and HCL Tech were among the laggards.
Foreign Institutional Investors (FIIs) bought equities worth Rs 3,794.52 crore on Tuesday, according to exchange data.
"Geopolitical tensions like the ongoing Indo-Pak standoff under 'Operation Sindoor' tend to cause immediate market volatility. While short-term caution is reasonable, history shows that Indian markets demonstrate strong resilience once clarity returns. Unless accompanied by broader economic or global shocks, Indo-Pak tensions have not had a lasting negative impact. Investors should focus on fundamentals, not fear," said Pankaj Singh, small case manager and Founder and Principle Researcher at SmartWealth.ai.
The BSE midcap gauge jumped 1.36 per cent and smallcap index climbed 1.16 per cent.
Among sectoral indices, auto rallied the most 1.74 per cent, followed by consumer discretionary (1.21 per cent), metal (1.19 per cent), realty (1.12 per cent), consumer durables (1.05 per cent), power (0.95 per cent) and financial services (0.94 per cent).
BSE FMCG and healthcare indices were the only laggards.
As many as 2,203 stocks advanced while 1,685 declined 158 remained unchanged on the BSE.
"Indian equity markets exhibited strong resilience amid recent Indo-Pak border tensions, the measured market response indicated that geopolitical risks were largely priced in and expectations of de-escalation is prevailing among investors. At the same time, the progress on the India–UK FTA further buoyed investor optimism, driving gains in key sectors such as textiles, automobiles, and information technology," Vinod Nair, Head of Research, Geojit Investments Limited said.
Globally, investor sentiment has improved as the United States and China signal a willingness to resume trade negotiations, Nair added.
In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in the positive territory, while Japan's Nikkei 225 ended lower.
Markets in Europe were quoting in the negative territory. US markets ended lower on Tuesday.
India and the UK on Tuesday sealed a landmark free trade agreement that will lower tariffs on 99 per cent Indian exports and will make it easier for British firms to export whisky, cars, and other products to India besides boosting the overall trade basket.
Global oil benchmark Brent crude climbed 0.64 per cent to USD 62.55 a barrel.
Snapping its two days of gains, the BSE benchmark declined 155.77 points or 0.19 per cent to settle at 80,641.07 on Tuesday. The Nifty dipped 81.55 points or 0.33 per cent to 24,379.60.
