Nation
Modi 'Tsunami' sweeps Congress-led UPA

When outgoing Prime Minister Manmohan Singh said, where is the Modi wave?, he may have wanted to say, the wave had become a Tsunami. No wonder, Sonia Gandhi-led Congress received its worst defeat in history from Narendra Modi and BJP


As expected by common people, the Narendra Modi-led Bharatiya Janata Party (BJP) has defeated Congress-led United Progressive Alliance (UPA) by a landslide margin. Contrary to media pundits predictions, the BJP even managed to cross the 272 figure, required for majority in the Lok Sabha, on its own. In fact, in several states, Sonia Gandhi-led Congress could not even win a single seat. Several top guns and stalwarts from Congress and UPA, like ministers Kapil Sibal, Sachin Pilot, Sushilkumar Shinde, Milind Deora, CP Joshi, Pawankumar Bansal, Farooq Abdullah, Praful Patel and corporate honcho-turned politician Nandan Nilekani lost their seats, many of them to BJP. Even Arvind Kejriwal, the founder of Aam Admi Party (AAP) and several of his bigwig party members like Kumar Vishwas, Ashutosh, Yogendra Yadav had to face the defeat.

 

ALL INDIA Result Status

 

 

Status Known For 539 out of 543 Constituencies

 

Party

Won

Leading

Total

Bharatiya Janata Party

13

265

278

Communist Party of India

1

0

1

Communist Party of India (Marxist)

0

10

10

Indian National Congress

1

41

42

Nationalist Congress Party

1

5

6

Aam Aadmi Party

0

4

4

All India Anna Dravida Munnetra Kazhagam

0

35

35

All India N.R. Congress

0

1

1

All India Trinamool Congress

0

34

34

All India United Democratic Front

0

3

3

Biju Janata Dal

0

20

20

Indian National Lok Dal

0

2

2

Indian Union Muslim League

0

2

2

Jammu & Kashmir Peoples Democratic Party

0

3

3

Janata Dal (Secular)

0

2

2

Janata Dal (United)

0

2

2

Jharkhand Mukti Morcha

0

1

1

Kerala Congress (M)

0

1

1

Lok Jan Shakti Party

0

6

6

Naga Peoples Front

0

2

2

National Peoples Party

0

1

1

Pattali Makkal Katchi

0

1

1

Rashtriya Janata Dal

0

4

4

Revolutionary Socialist Party

0

1

1

Samajwadi Party

0

7

7

Shiromani Akali Dal

1

3

4

Shivsena

1

18

19

Sikkim Democratic Front

0

1

1

Telangana Rashtra Samithi

0

11

11

Telugu Desam

0

14

14

All India Majlis-E-Ittehadul Muslimeen

0

1

1

Apna Dal

0

2

2

Rashtriya Lok Samta Party

0

3

3

Swabhimani Paksha

0

1

1

Yuvajana Sramika Rythu Congress Party

0

10

10

Independent

0

4

4

Total

18

521

539

Courtesy: Election Commission of India Last Updated at 2:57 PM On 16/5/2014

 

Ever since media came out with its exit polls for the Lok Sabha election 2014, several people, mostly politicians from Congress-led United Progressive Alliance (UPA) were saying that in last two elections, these surveys were proved wrong. Well, all the media and all the survey can't be wrong all the time. In fact, this time, the Narendra Modi'fied' campaign was so powerful that it not only proved exit poll results below estimate but completely swept Congress and its (UPA).

 

The Congress has accepted its defeat (what else can it do?). Although the BJP was saying that Congress would find it difficult to reach 100 seats, after the verdict, both must be wondering, how this could happen?

 

Full credit to BJP's clean victory goes to Narendra Modi and his non-stop campaign across the country. Even the Congress and its allies, by passing remarks and provoking Modi, helped the BJP to keep its prime ministerial candidate in the focus throughout the elections.

 

On the other hand, opposition parties, especially Congress appeared to be divided as to on whom to focus. So it brought Sonia and Rahul Gandhi during the first phase only to be replaced by Priyanka Gandhi Vadra. Unfortunately, none can match the already 'running in full steam' Modi and thus were found to be on the defensive all the time.

 

During last elections, Congress had won 206 seats in the 543-seat Lok Sabha and was the single largest party. On the other hand, BJP had only 116 seats.

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Sensex, Nifty waiting for clarity: Thursday closing report
The indices may sell off temporarily if the NDA’s margin of victory is wafer-thin. 

After opening Thursday in the negative, the Indian market immediately went up to higher level to hit its intra-day high but could not sustain at that level and started sliding lower and entered the negative zone. After this, it started trading on either side of yesterday’s close and managed to close in the positive.
 
The BSE 30-share Sensex opened at 23,809 while NSE 50-share Nifty opened at 7,111. The indices hit a high of 23,972 and 7,153, however losing its strength again edged lower to hit a low of 23,743 and 7,083, respectively. Sensex closed at 23,906 (up 90 points or 0.38%) while the Nifty closed at 7,123 (up 14 points or 0.20%). The NSE recorded a volume of 103.88 crore shares. India VIX rose 13.40% to close at 36.7650.
 
The top five gainers among the other indices on the NSE were Energy (1.36%), PSE (1.25%), CPSE (0.98%), Finance (0.65%) and FMCG (0.45%) while the top five losers were Media (1.64%), Smallcap (1.30%), Realty (1.11%), Midcap 1%) and Nifty Midcap 50 (1%).
 
Of the 50 stocks on the Nifty, 22 ended in the green. The top five gainers were ONGC (3.36%), Tata Power (2.65%), Gail (2.59%), Power Grid (2.54%) and NTPC (2.39%). The top five losers were Asian Paints (5.73%), Bajaj Auto (4.30%), Bank of Baroda (3.88%), NMDC (3.33%) and United Spirits (2.43%).
Of the 1,572 companies on the NSE, 526 companies ended in the green, 976 closed in the red while 70 companies closed flat.
 
Market awaited the government to unveil data on inflation based on the wholesale price index (WPI) for April 2014 today. The annual rate of inflation based on monthly wholesale price index (WPI) eased to 5.2% for the month of April 2014 from 5.7% in March 2014. Simultaneously, the government revised upwards the rate of WPI inflation for February 2014 to 5.03%, from 4.68% reported on 14 March 2014.
 
Apollo Tyres (rose 5.88%) was the top gainer in the ‘A’ group on the BSE. The company has shown growth in its March quarter results and annual results. Today its board approved greenfield project in Eastern Europe, at a project cost of approx.Euro 500 million over the next 4 years, funded with accruals and debt at the company's European subsidiary. The planned capacity is expected to be 16,000 Passenger Car Tyres (PCR) per day and 3,000 Truck Bus Radial Tyres (TBR) per day.
 
In spite of recording growth in its quarterly result, Asian Paints was the top loser in ‘A’ group on the BSE. Asian Paints fell 4.89% after hitting its 52- week high today at Rs565.
 
Ahead of the election outcome four of the PSU stocks in the Sensex 30 pack closed in the positive. NTPC (2.95%), ONGC (2.56%) and  Gail (2.16%) were among the top four gainers while Bhel rose 0.67%.
 
Weak quarterly results of Bajaj Auto pulled the stock to the lower. Bajaj Auto (4.28%) was the top loser in the Sensex 30 stock.
 
US indices closed in the negative on Wednesday. Prices paid to American factories and service producers rose in April by the most in more than a year. The 0.6% increase in the producer price index was the biggest since September 2012 and exceeded all estimates, figures from the Labor Department showed.
 
Except for Nikkei 225 (0.75%), NZSE 50 (0.35%) and Seoul Composite (0.03%) all the other trading Asian indices closed in the positive. Hang Seng (0.66%) was the top gainer.
 
Japan's economy grew at the fastest pace since 2011 in the first quarter as companies stepped up investment and consumers splurged before the first sales-tax rise in 17 years last month. Gross domestic product grew an annualized 5.9% from the previous quarter, the Cabinet Office said today in Tokyo.
 
European indices were showing mixed performance while US Futures were trading marginally lower.

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