Karnataka observes 12-hour statewide Bandh by pro-Kannada groups amid tight security today
Bengaluru (PTI): A 12-hour statewide bandh called by the pro-Kannada groups to protest the alleged assault on a state-run bus conductor in Belagavi last month for not knowing Marathi began in Karnataka on Saturday morning amid tight security.
In several parts of the state, the pro-kannada groups took to the streets staging protests and they appealed to the shopkeepers to cooperate and extend their support for the cause. But most of the shops were open as usual.
In Bengaluru, the activists gathered at the Mysore Bank circle and raised slogans holding placards.
Some activists staged a demonstration at the BMTC and KSRTC bus stand at Majestic in the state capital.
The protestors appealed to the bus drivers and conductors to support the call for Bandh. As their agitation intensified, police took them under preventive custody.
In Mysuru, some pro-Kannada activists staged a sit-in protest by blocking buses at the suburban bus stand.
They staged a dharna near the exit gate to block buses heading to Bengaluru and other parts of the state.
Some members of pro-Kannada groups were taken into preventive custody after they attempted to stop a KSRTC bus in Mysuru.
In Davangere too, the protesters took to the streets.
Sources in Belagavi said the KSRTC buses were plying as usual but there was restricted movement of buses from Maharashtra to this border town in north Karnataka, which was at the centre of the linguistic row.
Besides the attack on a bus conductor at Balekundri, Panchayat officials were abused recently in Kinaye village in Belagavi for not speaking in Marathi.
Belagavi just at the border of Maharashtra has a substantial Marathi population where the border row flares up from time to time.
The accused in both the cases were taken into custody.
Elaborate security arrangements are in place across the state with senior officers overseeing the situation on the ground to prevent any untoward incident.
According to officials, police in various districts have deployed home guards along with the City Armed Reserve unit as a precautionary measure to ensure that the bandh is observed peacefully without causing inconvenience to the public.
Bengaluru Police Commissioner B. Dayananda has warned that legal action will be taken against those found coercing people into taking part in the bandh.
He said that 60 Karnataka State Reserve Police platoons, 1,200 home guards and the entire civil and traffic police force have been deployed in Bengaluru City as a precautionary measure.
Karnataka Deputy Chief Minister D.K. Shivakumar has urged people to maintain peace and abide by the law. "We will protect the interests of the state. Everyone should maintain peace and follow the law. However, I feel there is no need for a bandh," he told the reporters on Friday.
According to Bengaluru Deputy Commissioner Jagadeesha G., no holidays has been declared for schools and colleges.
On February 28, 'Kannada Okkuta,' an umbrella organisation representing various pro-Kannada groups, announced the statewide bandh from 6 am to 6 pm on March 22.
Some organisations and unions have either chosen to stay away from the bandh or have decided to offer only moral support.
A senior transport department official said that the State-owned public road transport corporations such as Karnataka State Road Transport Corporation (KSRTC) and Bengaluru Metropolitan Transport Corporation (BMTC) will remain functional. But depending on the situation on the ground, a decision will be taken.
According to sources, some autorickshaws, cabs and private drivers' unions, associations have extended support to the shutdown, while hotel associations, malls, bars and restaurants have only offered moral support.
Meanwhile, emergency services -- pharmacies, hospitals, and ambulance services, petrol pumps and metro services will remain operational amid the bandh.
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Sensex jumps 1,078 pts to settle at 6-week high on FII buying, gains in banking shares
Mumbai, Mar 24 (PTI): Benchmark BSE Sensex surged by 1,078 points to close at a six-week high on Monday as fresh foreign fund inflows and buying in banking and oil & gas shares helped the index extend the winning run to the sixth day.
The 30-share BSE Sensex jumped 1,078.87 points or 1.40 per cent to settle at 77,984.38, a level not seen since February 6. During the day, it zoomed 1,201.72 points or 1.56 per cent to breach the 78,000 level and touch a high of 78,107.23.
The NSE Nifty surged by 307.95 points or 1.32 per cent to 23,658.35. Intra-day, the benchmark zoomed 358.35 points or 1.53 per cent to 23,708.75.
A positive trend in the US and European markets powered the rally in domestic equities, experts said. A sharp rebound in the rupee also bolstered investor sentiment.
From the Sensex pack, NTPC rose the most by 4.61 per cent amid reports that the power PSUs is likely to gain from Indian Railways' shift to renewable and nuclear power.
Kotak Mahindra Bank was the second biggest gainer, rising by 4.51per cent after the private lender announced the appointment of a chief technology officer.
State Bank of India, Tech Mahindra, Power Grid, Bajaj Finserv, Axis Bank, HCL Tech, Reliance Industries and Bajaj Finance were among the gainers.
Titan fell the most by 2.68 per cent among Sensex shares. IndusInd Bank, Zomato, Mahindra & Mahindra, Bharti Airtel, Nestle and Infosys were the laggards.
Foreign Institutional Investors (FIIs) bought equities worth Rs 7,470.36 crore on Friday, according to exchange data.
"Short covering ahead of monthly F&O expiry later this week fuelled the rally as the Sensex breached the psychological 78k mark intra-day on across-the-board buying.
"Renewed optimism by foreign investors coupled with strong US and European market cues further bolstered the sentiment," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
Domestic markets experienced a robust rally, spurred by value buying as valuations returned to long-term averages and early indications of earnings growth recovery emerged.
Increased government spending and expected monetary easing are anticipated to boost optimism in rate-sensitive sectors such as banking, NBFCs, auto, consumer durables, and real estate, leading to potential outperformance, Vinod Nair, Head of Research, Geojit Investments Limited, said.
"The sustainability of this trend will depend on upcoming PMI data, Q4 earnings results, and developments related to reciprocal US tariffs," Nair said further.
The BSE midcap gauge jumped 1.32 per cent and smallcap index climbed 1.17 per cent.
All BSE sectoral indices ended higher, with bankex rallying 2.53 per cent, utilities (2.42 per cent), power (2.31 per cent), industrials (2 per cent), financial services (1.97 per cent), capital goods (1.95 per cent) and realty (1.51 per cent).
As many as 2,496 stocks advanced while 1,640 declined and 162 remained unchanged on the BSE.
In Asian markets, Shanghai and Hong Kong settled higher while Seoul and Tokyo ended lower. European markets were trading in positive territory. US markets ended in green on Friday.
Global oil benchmark Brent crude went up 0.07 per cent to USD 72.21 a barrel.
In the six-day rally to Monday, Sensex has zoomed more than 4,100 points or 5 per cent as FII selling eased. Broader Nifty has climbed 1,260 points or 5.5 per cent since March 17.
