News Live Updates: Supreme Court upholds SIT clean chit to PM Narendra Modi in Gujarat riots case, rejects plea by Zakia Jafri - Financial Daily News Site

News Live Updates: Supreme Court upholds SIT clean chit to PM Narendra Modi in Gujarat riots case, rejects plea by Zakia Jafri

The Supreme Court has dismissed a plea seeking a probe into the 2002 Gujarat riots that saw 1,000 people losing their lives, saying it was devoid of merits. The Supreme Court bench upholds a Gujarat high court order accepting a Special Investigation Team’s closure report exonerating 64 people, including Prime Minister Narendra Modi, who was then Gujarat chief minister.

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Important JMM meet tomorrow to take call on Presidential candidates

Jharkhand Mukti Morcha has called a meeting of its legislators and MPs, tomorrow, pertaining to the decision on extending support to Presidential election candidates. Meeting to be chaired by party supremo Shibu Soren

Relief material on its way to Afghanistan

Biolexis, Akston Biosciences see encouraging top-line results from phase II/III trial of thermostable COVID-19 vaccine

Z security to opposition’s Presidential candidate Yashwant Sinha

The Centre has provided ‘Z’ category armed security cover of Central Reserve Police Force to opposition’s presidential candidate Yashwant Sinha, who will be filling his nomination on June 27.

India’s current account deficit to widen in FY23, says brokerage Edelweiss

Three reasons that shows market pain is unlikely to end

  • Foreigner FlightOverseas: investors have been selling Indian stocks at a record pace, withdrawing about $32 billion from the market since September. The retreat of foreigners is part of a wave hitting nations including South Korea and Taiwan as well.
  • Rosy Estimates: The drop in Indian equities has mainly been caused by valuation contraction so far. Earnings estimates for the NSE Nifty 50 Index are yet to clock a meaningful decline like that seen in MSCI Inc.’s broadest measure for Asian equities.
  • Small-Caps hit: Smaller stocks have been hit harder by investor risk aversion, with gauges of small and mid-cap Indian shares having already entered bear markets. Market breadth has weakened, with just 16% of S&P BSE 500 Index stocks trading above their 200-day average level, the lowest level in two years.

Trouble in AIADMK camp?

O Panneerselvam has reportedly moved Election Commission against EPS camp alleging attempts to change the party leadership to ‘unitary’ form against the rules of the party.

Race to Raisina Hills begins

RBI governor Shaktikanta Das on inflation, delay in hikes and rupee’s collapse against dollar

Risks to economy: inflation is definitely the biggest challenge confronting most countries. Almost all market economies are confronted with mounting inflation, which is a problem that worries governments and central banks worldwide. The current surge in our inflation is primarily because of global factors. From April onwards, we have been taking rate actions to effectively deal with rising inflation.Delay in hikes:The idea was to take out liquidity from the system in a very gradual and orderly manner. Unless you take out excess liquidity, overnight call rates will not respond to rate hikes and will remain lower. So, you have to deal with the problem of excess liquidity first.On Rupee’s collapse: Our forex reserves are quite strong. Our forex reserves are almost two-and-a-half times that of our short-term foreign debt in terms of residual maturity. Second, our macro fundamentals are far better, and India is in a better place than many other economies. Further, India is witnessing revival of growth, which is also steady.

Opposition’s pick for President Yashwant Sinha to file his nomination on June 27

Opposition candidate for the Presidential election Yashwant Sinha will file his nomination for the election on June 27. Sinha will be visiting Bihar & Jharkhand for two days from today onwards. NDA’s nominee for president Draupadi Murmu will file her nomination papers today in the presence of Prime Minister Narendra Modi and other senior leaders. Murmu reached New Delhi on Thursday where she met PM Modi, home minister Amit Shah, defence minister Rajnath Singh and BJP national president JP Nadda.

All indices in green; FMCG stocks on a roll, HUL, Future Consumer, Britannia up more than 2%

Price as on 24 Jun, 2022 09:48 AM, Click on company names for their live prices.

Covid-19 Case Count

India reports 17,336 new Covid19 cases today; Active cases rise to 88,284

Other regional forces

The National People’s Party (NPP) chief and Meghalaya Chief Minister Conrad Sangma and Nagaland Chief Minister Nephiu Rio have already confirmed their participation in the nomination for the Presidential election on Friday.

Chances of division in the NDA rank ruled out

With Bihar CM Nitish Kumar’s endorsement of Murmu’s candidature chances of division in the NDA rank has been ruled out. JD(U) HAS 21 MPs and 52 MLAs in three states- Bihar, Arunachal Pradesh and Manipur. With 16 members in Lok Sabha, JD(U) is the largest BJP ally of NDA at the Centre.

JMM to review its position

The Jharkhand Mukti Morcha (JMM), led byHemant Soren, may be among the 17 Opposition parties, which nominated Yashwant Sinha on June 21 as their joint candidate for the July 18 Presidential election, but the tribal party seems all set to review its position and back the ruling BJP-led NDA’s Presidential nominee, Droupadi Murmu.

RSS backs Murmu’s nomination

  • The RSS, which has hailed Murmu’s nomination, has been pitching with help through the Vanvasi Kalyan Ashram (VKA) to forge better ties between the party and the tribes.
  • VKA has been instrumental in helping the BJP gain a foothold in the Northeast where conversion is a major concern.

BJP hopes to win tribal votes with Murmu’s nomination

Tribal communities that make up 8.6% of country’s population are an important constituency for the BJP that banks on a coalition of castes.

ED Questioning

Rahul Gandhi said ‘I am too tired’ to 20% of questions: ED officials

Nomination Papers

Four sets of nomination papers will be filed with signatures of Union Ministers, BJP MPs, MLAs and of leaders from supporting parties. She will then embark on a nationwide campaign, urging different political parties to support her bid.

J-K LG Manoj Sinha reviews Amarnath Yatra preparations

The all-crucial meeting

Ahead of a nationwide campaign for her election, Droupadi Murmu met Prime Minister Narendra Modi, senior Union ministers Amit Shah and Rajnath Singh and BJP president J P Nadda on Thursday.

BJP leaders welcome Murmu

At the Delhi airport, Murmu was welcomed by BJP leaders Manoj Tiwari, Arjun Munda, Arjun Ram Meghwal, Adesh Gupta and others. She will stay at the Odisha Bhavan.

Andhra CM backs NDA candidate Droupadi Murmu

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