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Suvendu govt ends religion-based schemes in Bengal, scraps state OBC list
The BJP government has also done away with the exisiting state OBC list in accordance with the Calcutta high court judgement and would set up a panel to decide quota eligibility. Last year on July 28, however, the CJI-led bench of the Supreme Court had vacated high court's stay on implementation of the new OBC list that had a total of 140 sub-groups under OBC-A and OBC-B categories, including 80 belonging to the Muslim community.
‘Only four more months’: DMK leader's bold forecast on Vijay-led TVK regime
He said that DMK president MK Stalin, who served as chief minister before Vijay’s sweeping victory in the April Assembly election, would soon return to power.
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Fifteen Indian Smallcap Stocks Rally Up to 25% Over Five Sessions
A group of 15 small-cap stocks in the Indian market has defied overall market weakness, gaining for five consecutive trading sessions. While the benchmark Sensex index fell by nearly 1%, these specific stocks recorded rallies of up to 25%. This trend highlights strong stock-specific momentum and continued investor interest in the small-cap segment. The gains come amid general market volatility, suggesting that investors are selectively buying companies based on individual performance and potential.
- •Smallcap Stocks, positive, Up to 25%, 15 stocks gained for five consecutive sessions despite market weakness.
- •Sensex, negative, -1%, The broader index declined slightly during this period.
- •Smallcap Segment, positive, N/A, Specific momentum in smaller companies continues despite overall volatility.
Proposed Securities Markets Code 2025 Aims to Streamline Regulations
The proposed Securities Markets Code 2025 aims to modernize India's financial regulatory framework. By consolidating various laws, the code seeks to improve efficiency, transparency, and market growth. Key recommendations include allowing the listing of companies without immediate public offerings, facilitating trading in unlisted firms, and refining electronic voting processes. Additionally, establishing a single regulatory authority could reduce overlaps, making the market more investor-friendly while fostering innovation within the financial ecosystem.
- •SEBI/Securities Market, Neutral, Proposed regulatory overhaul to Securities Markets Code 2025
- •Unlisted Companies, Positive, Suggestion to allow trading to increase market depth
- •Regulatory Bodies, Neutral, Proposal for a single authority to reduce overlapping rules
US Dollar Faces Weekly Drop Against Yen Amid Suspected Japan Intervention
The US dollar recorded its steepest weekly decline against the Japanese yen since February. The sharp move suggests that Japanese authorities may have intervened in the currency market to curb excessive volatility and yen weakness. Despite this drop, the long-term outlook for the yen remains uncertain due to the interest rate gap between the Federal Reserve and the Bank of Japan. Traders are staying cautious as Japan enters the Golden Week holiday, which often sees lower liquidity and higher volatility.
- •Pair: USD/JPY, Direction: Negative, Magnitude: Sharp weekly loss (since Feb), Reason: Suspected intervention by Japanese authorities to control volatility.
- •Index: Dollar Index, Direction: Neutral/Negative, Magnitude: N/A, Reason: Caution due to policy divergence between the Fed and Bank of Japan.
Gold Prices Recover as Geopolitical Tensions Ease and Oil Softens
Gold prices moved into positive territory after recovering from earlier losses, supported by a slight softening of the US dollar and hopes for diplomatic talks concerning Iran. However, the precious metal is still heading for a weekly decline as the US Federal Reserve maintains a hawkish stance on interest rates. High bond yields and inflation concerns continue to limit the upside for gold. Meanwhile, silver showed stronger performance, driven by a robust demand outlook in the industrial and investment sectors.
- •Commodity: Gold, Direction: Positive, Magnitude: Recovery from early losses, Reason: Hopes for Iran talks and a slightly weaker US dollar.
- •Commodity: Silver, Direction: Positive, Magnitude: Outperformed gold, Reason: Strong demand outlook.
- •Factor: US Fed, Direction: Negative, Magnitude: Weekly decline overall, Reason: Hawkish Fed stance and high bond yields.
Nifty Records Best Performance Since 2023 Led by Growth Sectors
The Indian stock market saw a powerful rebound in April, with the Nifty index posting its best monthly performance since December 2023. This rally was largely driven by midcap and smallcap stocks, which outpaced the benchmarks. Specific sectors such as defence, real estate, and capital markets were the primary contributors to the gains. While banking and IT sectors also saw a recovery, their growth was more measured. The positive sentiment marks a significant turnaround after several months of market volatility.
- •Index: Nifty 50, Direction: Positive, Magnitude: Best month since Dec 2023, Reason: Rebound in midcaps, smallcaps, and strong performance in Realty/Defence sectors.
- •Sector: Defence & Realty, Direction: Positive, Magnitude: Outperformed, Reason: Strong sectoral tailwinds and investor interest.
- •Sector: IT & Banks, Direction: Positive, Magnitude: Moderate recovery, Reason: Broader market sentiment improvement.
Oil Prices Dip on Iran Negotiation News but Hold Weekly Gains
Crude oil prices saw a slight decline following reports that Iran and the US might engage in renewed negotiations. Despite this daily dip, oil is still set to achieve strong gains for the week due to ongoing concerns over supply disruptions. Geopolitical instability around the Strait of Hormuz remains a primary driver for price volatility. Traders are currently balancing the possibility of a diplomatic breakthrough against the reality of tight global supplies and existing export restrictions, keeping the market trend unpredictable.
- •Commodity: Crude Oil, Direction: Negative, Magnitude: Daily dip (but weekly gain), Reason: Reports of potential Iran-US negotiations.
- •Commodity: Crude Oil, Direction: Positive, Magnitude: Strong weekly gains (overall), Reason: Supply disruptions and Strait of Hormuz tensions.
India
Politics from across the subcontinent
Tamil Nadu tourist dies after being caught in clash between two elephants at Dubare Elephant Camp in Karnataka
Karnataka Forest Minister Eshwar Khandre orders safety review and calls for visitor curbs around elephants
Suvendu govt ends religion-based schemes in Bengal, scraps state OBC list
The BJP government has also done away with the exisiting state OBC list in accordance with the Calcutta high court judgement and would set up a panel to decide quota eligibility. Last year on July 28, however, the CJI-led bench of the Supreme Court had vacated high court's stay on implementation of the new OBC list that had a total of 140 sub-groups under OBC-A and OBC-B categories, including 80 belonging to the Muslim community.
‘Only four more months’: DMK leader's bold forecast on Vijay-led TVK regime
He said that DMK president MK Stalin, who served as chief minister before Vijay’s sweeping victory in the April Assembly election, would soon return to power.
'On a very important foreign visit': BJP justifies PM's 5 nation tour amid save fuel appeal after opposition's 'where's Modi' question
'On a very important foreign visit': BJP justifies PM's 5 nation tour amid save fuel appeal after opposition's 'where's Modi' question
UDF government to implement two ‘Indira guarantees’, including free bus travel for women
Kerala CM Satheesan announced free bus travel for all women on KSRTC buses and a dedicated department for senior citizens to ensure their dignity and welfare
Parliamentary panel summons NTA chief; to review reforms, NEET-UG paper leak case on May 21
The agenda includes a review of the implementation of the K Radhakrishnan Committee report on NTA reforms and an update on the investigation into the alleged NEET-UG paper leak case.
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'On a very important foreign visit': BJP justifies PM's 5 nation tour amid save fuel appeal after opposition's 'where's Modi' question
'On a very important foreign visit': BJP justifies PM's 5 nation tour amid save fuel appeal after opposition's 'where's Modi' question
UDF government to implement two ‘Indira guarantees’, including free bus travel for women
Kerala CM Satheesan announced free bus travel for all women on KSRTC buses and a dedicated department for senior citizens to ensure their dignity and welfare
Parliamentary panel summons NTA chief; to review reforms, NEET-UG paper leak case on May 21
The agenda includes a review of the implementation of the K Radhakrishnan Committee report on NTA reforms and an update on the investigation into the alleged NEET-UG paper leak case.
Telangana to launch Mahua flower project to build heritage industry around Ippa
Telangana is considering Excise policy changes to allow Mahua spirit and liquor, drawing on models in other States
Geopolitics has changed since last India-Nordic Summit, conflicts on agenda for talks: Norwegian envoy
As U.S. sanction waivers on Russian oil lapse, oil and gas major exporter Norway could pitch for more energy supplies to India
Russian drone hits Chinese ship off Ukraine before Putin visits Xi Jinping
Ukraine says its territory is attacked overnight with 524 drones and 22 missiles.
U.P. Cabinet gives nod to OBC commission for panchayat bodies
The commission will be tasked with determining the reserved seat allocations within the rural bodies
Control menace of touts at Tiruchendur temple: Vanathi Srinivasan urges CM Vijay
Touts were collecting between ₹500 and ₹1,000 from devotees, promising them expedited darshan, she alleged