Big question on BJP's claims of 'Acche Din': Kumaraswamy
Bengaluru(PTI): JD(S) leader H D Kumaraswamy on Monday said there is a big question on the ruling BJP's claims of "Acche Din" (good days), as he referred to RSS general secretary Dattatreya Hosabale's statement expressing concern over 'rising income inequality' and unemployment in the country.
The former Chief Minister, in a series of tweets, said the statement by a top leader of RSS, which is the ideological parent-organization of the ruling party, holds a mirror to the present condition in the country.
"BJP's mother-root, RSS' general secretary Dattatreya Hosabale's statement that economic inequality, poverty, and unemployment are very dangerous holds a mirror to the present condition in India. Now, there are big questions on the claims of Acche Din," Kumaraswamy said.
Stating that one doesn't require expertise to say who has flourished, who has lost everything in the last seven years of BJP rule, he said Hosabale himself has said that 20 crore people are below the poverty line and four crore youth unemployed. "Then, who became rich in the last 7 years?"
Hosabale on Sunday expressed concern over alleged rising income inequality and unemployment, asserting that poverty is posing as a "demon-like challenge in front of us."
He, however, has said several steps have been taken in the last few years to address this challenge.
Pointing out that malnutrition is rampant across the country and there is no drinking water in a number of villages, Kumaraswamy said, "When this is the truth, why is there fear to introspect 'Acche Din'? Hosable has spoken the truth of what surveys also say."
"Acche Din" is the ruling BJP's slogan which has been used by the J P Nadda-led party and its leaders since the time the party came to power in 2014.
Warning not to be surprised if increasing economic inequality leads to "bigger rage", Kumaraswamy said the country getting caught in the web of the corporate world is not a good sign. "People's frustration and impatience are increasing day by day. It is time the BJP woke up," added the son of former Prime Minister H D Deve Gowda.
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Stock markets take breather after sharp rally, Sensex tanks 1,282 pts as IT shares retreat
Mumbai, May 13 (PTI): Stock markets tumbled on Tuesday with benchmark Sensex falling by 1,282 points due to profit-taking in IT, auto and private banking shares a day after a record rally.
The 30-share BSE barometer tanked 1,281.68 points or 1.55 per cent to settle at 81,148.22 with 25 of its constituents closing with losses and five with gains. During the day, it fell sharply by 1,386.21 points or 1.68 per cent to 81,043.69.
The broader Nifty of NSE dropped 346.35 points or 1.39 per cent to 24,578.35.
From the Sensex firms, Infosys declined the most by 3.54 per cent. Power Grid dropped 3.4 per cent, Eternal by 3.38 per cent, HCL Tech by 2.94 per cent, Tata Consultancy Services by 2.88 per cent and Bharti Airtel by 2.74 per cent. IndusInd Bank, HDFC Bank, ICICI Bank, NTPC, Maruti, Tata Motors, and M&M were also among the laggards.
Sun Pharma, Adani Ports, Bajaj Finance, State Bank of India and Tech Mahindra were the gainers.
Profit-taking was evident across the board, with IT, FMCG, and auto sectors emerging as the top losers, Ajit Mishra – SVP, Research, Religare Broking Ltd said.
"The domestic market witnessed profit booking today, following yesterday’s sharp rally. The relief-driven surge—fuelled by easing global and domestic risks, including a reduction in trade war tensions and Indo-Pak geopolitical stress—appears to be taking a breather," Vinod Nair, Head of Research, Geojit Investments Limited, said.
Sensex and Nifty logged their best single-day gains in absolute terms on Monday following buying by retail and foreign investors after India and Pakistan reached an understanding to stop military actions and the US and China announced a deal to lower tariffs significantly. The indices raced nearly 4 per cent on Monday on across the board rally.
Broader markets closed with gains on Tuesday with the BSE smallcap gauge jumping 0.99 per cent and midcap index by 0.17 per cent.
Among sectoral indices, BSE Focused IT tanked 2.44 per cent, teck (2.39 per cent), IT (2.21 per cent), utilities (1.35 per cent), power (1 per cent), metal (0.95 per cent) and oil & gas (0.95 per cent).
Healthcare, industrials, capital goods, services and consumer durables were the gainers.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index and Shanghai's SSE Composite index settled in the positive territory while Hong Kong's Hang Seng ended lower. European markets were trading mostly higher.
US markets ended significantly higher on Monday following easing of trade tensions between China and the US. The Nasdaq Composite surged 4.35 per cent, S&P 500 jumped 3.26 per cent and Dow Jones Industrial Average climbed 2.81 per cent.
Global oil benchmark Brent crude climbed 0.32 per cent to USD 65.17 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,246.48 crore on Monday after a day's breather, according to exchange data.
