Sensex ended 623 points higher at 39,434
Sensex ended 623 points higher at 39,434

Sensex ends at record closing high, a day after Modi's historic win

  • Oil prices have seen a sharp fall as US-China trade tensions dampened demand outlook
  • SBI, ICICI Bank, IndusInd Bank and Axis Bank saw strong gains

British Prime Minister Theresa May speaks in the street outside 10 Downing Street in London, England. (Photo: AP)
British Prime Minister Theresa May speaks in the street outside 10 Downing Street in London, England. (Photo: AP)

British PM Theresa May announces resignation, to step down on 7 June

  • May endured crises and humiliation in her effort to find a compromise Brexit deal
  • May's departure will deepen the Brexit crisis as a new leader is likely to want a more decisive split

The BJP always knew that the Bengal campaign would be tough and that Mamata Banerjee, chief minister of Bengal, would not cede ground so easily
The BJP always knew that the Bengal campaign would be tough and that Mamata Banerjee, chief minister of Bengal, would not cede ground so easily

Operation Bengal pays off for BJP

Riding on a latent anti-incumbency, the BJP devised a unique campaign strategy to take on Mamata Banerjee

Narendra Modi displays the victory symbol after his party sweeps majority in Lok Sabha elections 2019
Narendra Modi displays the victory symbol after his party sweeps majority in Lok Sabha elections 2019

A $1.4 trillion India spending push tops Modi 2.0 agenda

  • BJP’s manifesto targets 100 trillion of capital investment in infrastructure by 2024
  • Fitch Ratings said improving the India’s weak government finances will be crucial for the new administration

Inox Leisure shares hit a record high of  ₹355 today
 (AFP file)
Prime Minister Narendra Modi (AFP file)
People look at the screen on BSE building as the sensex soars on the vote counting day for the 2019 Lok Sabha polls, in Mumbai.  (PTI )
BJP president Amit Shah and Prime Minister Narendra Modi at the party headquarters in New Delhi
BJP president Amit Shah and Prime Minister Narendra Modi at the party headquarters in New Delhi

10 reasons why the BJP swept the polls

  • Modi made people believe in themselves and in him
  • Modi’s nationalism brought down the traditional hurdles of caste and, in some areas, religion, too

Thane: BJP supporters celebrate the party's lead during the counting of votes for Lok Sabha elections 2019, at BJP office in Thane.  (PTI )
Thane: BJP supporters celebrate the party's lead during the counting of votes for Lok Sabha elections 2019, at BJP office in Thane. (PTI )

Ten charts that explain the 2019 Lok Sabha verdict

India seems to be witnessing the rise of a new political order, with a broad-based Hindu alliance driving the growth of the Bharatiya Janata Party

If you’ve watched the animated 1992 Aladdin enough – either with children or as a child yourself – you might find yourself uttering the lines in Ritchie’s film before they’re spoken onscreen.
If you’ve watched the animated 1992 Aladdin enough – either with children or as a child yourself – you might find yourself uttering the lines in Ritchie’s film before they’re spoken onscreen.

Film review: ‘Aladdin’ is a whole old world

  • This live action remake is practically the same as the 1992 animated film, yet diminished
  • Will Smith appears as the genie, a part made famous by Robin Williams

Under Ujjwala scheme, 70 million underprivileged households benefited in the last three years.ht
Indian National Congress Party president Rahul Gandhi looks on during a press conference, in New Delhi on May 23, 2019. - Rahul Gandhi, leader of India's main opposition Congress party, conceded on May 23 he had lost his seat in the famous family's long-held home constituency. (Photo by SAJJAD HUSSAIN / AFP)
Indian National Congress Party president Rahul Gandhi looks on during a press conference, in New Delhi on May 23, 2019. - Rahul Gandhi, leader of India's main opposition Congress party, conceded on May 23 he had lost his seat in the famous family's long-held home constituency. (Photo by SAJJAD HUSSAIN / AFP)

Congress stares at erosion of its political credibility

  • Results a poor reflection on Rahul Gandhi’s leadership capabilities and Congress’ poll strategy to take on the BJP
  • Congress' campaign did not find resonance with the people and only those candidates who were strong locally, ended up winning

 (Photo: PTI)
 (Mint file)
 (Ramesh Pathania/Mint)
Jokha Alharthi
The company posted a profit of  ₹743.12 crore for the same period of 2017-18. (R.V.S. Kumar/Mint)
The company posted a profit of 743.12 crore for the same period of 2017-18. (R.V.S. Kumar/Mint)

Ashok Leyland Q4 net dips 12% at 653 crore

  • The company posted a profit of 743.12 crore for the same period of 2017-18
  • The company's board recommended a dividend of 3.10 per share of Re 1 each for 2018-19

The decision comes days after Amul hiked milk prices by  ₹2 per litre. (Pradeep Gaur/Mint)
The decision comes days after Amul hiked milk prices by 2 per litre. (Pradeep Gaur/Mint)

Mother Dairy hikes milk prices by up to 2 a litre

  • Mother Dairy will raise the price of its poly pack milk variants in Delhi NCR from Saturday
  • The 1 litre pack has been increased by Re 1 only and the 500 ml pack by 2 a litre, effectively impacting the consumer by Re 1 per pack

JSW Steel has decided to raise its capex programme by  ₹5,700 crore to  ₹48,715 crore (Mint file)
Narendra Modi speaks after winning the Lok Sabha Elections at the Bhartiya Janata Party (BJP) headquarters in New Delhi. Photo: T. Narayan/Bloomberg
Prajwal Revanna (Twitter@ANI)
The Sensex had surged over 1,000 points at day's high (Photo: Aniruddha Chowdhury/Mint)
The Sensex had surged over 1,000 points at day's high (Photo: Aniruddha Chowdhury/Mint)

Modi 2.0: Sensex @45,000 is Morgan Stanley’s new one-year target

  • Morgan Stanley expects the RBI to be more accommodative and the economy to come out of its soft patch
  • The ongoing trends suggest that there will be continuity in administration, says Morgan Stanley

In the final tally of 8,048 candidates, only 711 were women. Photo: PTI
In the final tally of 8,048 candidates, only 711 were women. Photo: PTI

Opinion | 3 things we will remember about the Lok Sabha elections 2019

  • The 2019 elections were marked by a flood of fake news and disappointingly few female candidates
  • From Kunal Kamra to Satish Acharya, political dissenters got creative

A Falcon 9 SpaceX rocket, with a payload of 60 satellites for SpaceX's Starlink broadband network, lifts off from Space Launch Complex 40. (Photo: AP)
A Falcon 9 SpaceX rocket, with a payload of 60 satellites for SpaceX's Starlink broadband network, lifts off from Space Launch Complex 40. (Photo: AP)

SpaceX launches first 60 satellites of its internet network

  • One of the company's Falcon 9 rockets blasted off without incident from Cape Canaveral in Florida around 10:30 pm
  • Starlink will become operational once 800 satellites have been activated

People look at the screen on BSE building as the Sensex soars on the vote counting day for the 2019 Lok Sabha polls, in Mumbai.  (Photo: ANI)
People look at the screen on BSE building as the Sensex soars on the vote counting day for the 2019 Lok Sabha polls, in Mumbai. (Photo: ANI)

Equity market gets a reality check as election season ends

  • Stocks fell after rallying to records and the rupee slid as investors refocused on domestic realities, and posted modest gains on Friday
  • The government is already borrowing a record $100 billion, a key reason behind why a big rally has eluded local bonds

Netflix is for the second straight year largely absent from Cannes. (Photo: Bloomberg)
Netflix is for the second straight year largely absent from Cannes. (Photo: Bloomberg)

Netflix isn't absent at Cannes. It's everywhere.

  • A study conducted by the Sorbonne captured just how vital Netflix has been to festival marketplaces
  • 39% of Cannes premieres since 2009 have gone on to stream on Netflix, although most first had theatrical runs

H.D. Deve Gowda (Mint file)
H.D. Deve Gowda (Mint file)

Deve Gowda: Karnataka’s humbled Goliath

  • Gowda is among old-school politicians, well known for their coalition building skills
  • He won seven terms as a legislator since 1962, and six terms as Member of Parliament since 1991 including one stint as Karnataka CM and another as Prime Minister of India

Prime Minister Narendra Modi and BJP president Amit Shah at the party headquarters in New Delhi following a landslide win in the Lok Sabha elections on Thursday. (Photo: Pradeep Gaur/Mint)
Rupee strengthened 0.3% to 69.80 a dollar while India's benchmark Sensex rose 0.68% to 39,076.26 points. (Reuters)
Rupee strengthened 0.3% to 69.80 a dollar while India's benchmark Sensex rose 0.68% to 39,076.26 points. (Reuters)

Bond prices rise for third straight day

  • The 10-year bond yield was at 7.219%, compared with Thursday's close of 7.236%
  • Since the start of May, bond yield has fallen nearly 20 basis points

BJP leader Smriti Irani (PTI )
BJP supporters \walk with a giant party flag during an election campaign rally in Kolkata (Photo: PTI)
Photo: PTI
Prime Minister Narendra Modi (L) and Amit Shah. (Photo: Pradeep Gaur/Mint)
BJP supporters celebrate their party's lead in the Lok Sabha elections, at BJP Headquarters in New Delhi, Thursday, May 23, 2019. (Photo: PTI)
BJP supporters celebrate their party's lead in the Lok Sabha elections, at BJP Headquarters in New Delhi, Thursday, May 23, 2019. (Photo: PTI)

India the 'single best place' to put money, says Fairfax's Prem Watsa

  • Watsa's companies have invested about $3.7 billion in India, including a stake in Catholic Syrian Bank last year
  • Watsa is especially bullish on India and sees increased privatization in the economy under Modi

Photo: PTI
Photo: PTI

Legwork, foot soldiers and focus on its social schemes behind BJP’s success

  • BJP managed to build a strong organizational network, which helped it take the NDA govt’s flagship schemes to the socially, financially weaker sections
  • This importance of the elections for the BJP president can be gauged from the fact that Amit Shah travelled nearly 160,000km, holding 161 public meetings, 18 road shows and more than 1,500 meetings with BJP leaders and workers

Photo: Mint
Photo: Mint

Opinion: Down south, both Left and Right are at crossroads of political history

Right-wing forces have been trying to win in Kerala since the 1984 elections

A digital broadcast shows an image of Indian Prime Minister Narendra Modi next to stock prices outside the Bombay Stock Exchange (BSE) in Mumbai. (AFP )
A digital broadcast shows an image of Indian Prime Minister Narendra Modi next to stock prices outside the Bombay Stock Exchange (BSE) in Mumbai. (AFP )

With clear mandate, the pressure is on NDA 2.0 to get radical with reforms

The bankruptcy code and GST need more teeth to make them breakthrough reforms

Photo: Mint
BJP supporters carry a cut-out of PM Narendra Modi while celebrating the party's lead in the 2019 Lok Sabha polls. Photo: PTI
BJP supporters carry a cut-out of PM Narendra Modi while celebrating the party's lead in the 2019 Lok Sabha polls. Photo: PTI

Five economic challenges staring at Modi 2.0

  • If the investment slowdown was not worrying enough, the recent consumption slump will add to the policy challenges for the new government
  • The government in its full Budget which is likely to be presented in July will be tempted to breach the fiscal discipline

A file photo of TMC supporters election campaign rally in Kolkata
Bihar CM Nitish Kumar with his deputy Sushil Kumar Modi flashing the victory sign after NDA's win in the Lok Sabha polls, in Patna, Thursday. (PTI)
Bihar CM Nitish Kumar with his deputy Sushil Kumar Modi flashing the victory sign after NDA's win in the Lok Sabha polls, in Patna, Thursday. (PTI)

Well-calibrated social and political engineering led to NDA’s win in Bihar

What worked for the NDA is that it received votes from almost every caste

Congress President Rahul Gandhi. (PTI)
 (Photo: PTI)
Indian Prime Minister Narendra Modi (L) flashes the victory sign as he celebrates his victory in India's general elections, Photo: Pradip Gaur/Mint (Photo: AFP)
Indian Prime Minister Narendra Modi (L) flashes the victory sign as he celebrates his victory in India's general elections, Photo: Pradip Gaur/Mint (Photo: AFP)

Modi 2.0 seen continuing with its zero tolerance approach towards terror

  • Government may focus on allocating more resources for the defence budget aiding modernization, fine-tune policies towards US, China and Pakistan
  • The government was successful in rallying countries in its support to ensure Maulana Masood Azhar was declared a terrorist by the UN

 (Mint file)
(Mint file)

Opinion | A tryst with Indian democracy on vacation in hospital

An unexpected vacation in hospital can throw the hardiest into the rough and tumble of Indian elections

 (Photo: Pradeep Gaur/Mint)
(Photo: Pradeep Gaur/Mint)

Opinion | The people supported the BJP’s politics of development and performance

People have risen above caste, region, and similar identity-related issues

A file photo of Sumalatha Amarnath. (Mint)
Prime Minister Narendra Modi addresses BJP workers at the party headquarters in New Delhi on Thursday. (Ramesh Pathania/Mint)
The Jan Dhan scheme was probably the largest undertaking which has provided access to banking to a large mass of people in the country (Pradeep Gaur/Mint)
Rahul Gandhi has lost comprehensively to Modi and the leadership battle has ended in a whimper (Bloomberg)
Rahul Gandhi has lost comprehensively to Modi and the leadership battle has ended in a whimper (Bloomberg)

In the leadership battle, the Modi wave sinks Rahul’s boat

  • Modi’s not only won the battle but also reached popularity levels enjoyed only by Jawaharlal Nehru, Indira Gandhi
  • Throughout the campaign, Modi, like in 2014, continued to set the agenda that the Congress chief followed and reacted to

A billboard with an image of Indian Prime Minister Narendra Modi is surrounded by Bharatiya Janata Party (BJP) flags as supporters gather to celebrate the election results outside the BJP headquarters in Mumbai.  (AFP )
A billboard with an image of Indian Prime Minister Narendra Modi is surrounded by Bharatiya Janata Party (BJP) flags as supporters gather to celebrate the election results outside the BJP headquarters in Mumbai. (AFP )

Opinion | Narendra Modi reigns supreme. Now India's economy awaits

  • The prime minister’s remarkable election victory offers a momentous chance to correct the missteps of his first term
  • Investors will want to know if Modi still has an appetite for arbitrary action, such as his overnight ban on 86% of the country’s cash

YSR Congress supremo Jagan Mohan Reddy.