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Indian stock market celebrates New Year with a bang, surges 1,436 points
Mumbai, Jan 2: After a muted beginning, the Indian stock market welcomed 2025 with a bang on Thursday, surging more than 1,400 points, or 1.83 per cent, as auto stocks saw a bumper rally on the back of strong car sales data for December.
The Nifty auto index gained 3.79 per cent.
Sensex ended at 79,943.71, up by 1,436.30 points, or 1.83 per cent, and Nifty settled at 24,188.65, up by 445.75 points, or 1.88 per cent.
Sensex logged an intra-day high at 80,032.87, while Nifty surged to the day’s high at 24,226.70.
Nifty Bank ended at 51,605.55, up by 544.95 points, or 1.07 per cent. The Nifty Midcap 100 index closed at 58,108.20 after rising 657.30 points, or 1.14 per cent, while the Nifty Smallcap 100 index closed at 19,080.35 after rising 120.55 points, or 0.64 per cent.
On the Bombay Stock Exchange (BSE), 2,400 shares ended in green and 1,571 shares in red, whereas there was no change in 115 shares.
On the sectoral front, heavy buying was seen in the Auto, IT, Consumption, Financial Service, FMCG and Realty sectors on the NSE.
According to market experts, increased momentum was observed in the domestic market, driven by optimism about the upcoming earnings season starting next week. The rally was broad-based, with most sectoral indices posting gains, they said.
“The auto sector led the way, showing the strongest momentum due to robust December sales that defied the usual subdued demand. Banking and IT stocks also performed well, as the economy bottomed in Q2,” an expert said.
In the Sensex pack, Bajaj Finserv, Bajaj Finance, Maruti Suzuki, Titan, M&M, Infosys, HCLTech, Zomato, UltraTech Cement, Kotak Mahindra Bank, and IndusInd Bank were among the top gainers. Only Sun Pharma was among the top losers. FIIs sold equities worth Rs 1,782.71 crore on January 1, while domestic institutional investors bought equities worth Rs 1,690.37 crore on the same day.
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Rana’s interrogation will expose ISI-Lashkar links in Mumbai attack, says Ujjwal Nikam
Mumbai, Jan 25: Renowned Special Public Prosecutor of the 2008 Mumbai terror attacks, Ujjwal Nikam, has hailed the US Supreme Court’s decision to extradite Tahawwur Rana, an alleged conspirator in the 26/11 terror attacks, to India.
“This is a major victory for the Indian government,” Nikam stated while addressing the media on Saturday.
He explained that Rana’s appeal to the US Supreme Court, which argued against extradition citing his conviction in a Chicago court, was firmly rejected.
“The U.S. government opposed his petition, emphasising the need for him to face trial in India. The US Supreme Court’s decision paves the way for his extradition,” Nikam elaborated.
Talking about the potential impact of Rana’s interrogation, Nikam said, “This is an essential step forward. His questioning might unveil new dimensions of the Pakistan Army’s involvement in the 26/11 terror attack.”
Recalling his earlier interrogation of David Coleman Headley, a key conspirator in the Mumbai attack case, Nikam added, “Headley revealed the deep-seated collusion between Pakistan’s Inter-Services Intelligence (ISI) and Lashkar-e-Taiba. Similarly, Rana’s testimony could provide critical insights into the ISI-Lashkar nexus.”
Prominent political figures also commented on the development. Maharashtra BJP MLA Ram Kadam credited Prime Minister Modi’s effective foreign diplomacy for the extradition.
He said, “The path has been cleared to bring Tahawwur Hussain Rana to India. This is a major triumph for the country. His interrogation will once again expose Pakistan’s infamous role in global terrorism.”
Sanjay Raut of Shiv Sena (UBT), however, asked when other culprits would be brought to justice.
“This is a routine judicial process. While it’s commendable, we must also question the broader issue. When will other culprits like Nirav Modi, Dawood Ibrahim, and Tiger Memon be brought to justice? These matters cannot be overlooked.”
NCP (SP) leader Fahad Ahmad said, “While it is better late than never, we must focus on extracting as much information as possible from the accused. However, this should be a non-partisan effort, free from attempts to seek political credit or portray oneself as a hero. An investigation into the delays in handling this case is necessary to ensure such incidents do not recur in the future.”
Earlier, the US Supreme Court cleared Tahawwur Rana’s extradition to India, dismissing his review petition against the move, that is being seen as an outcome of President Trump assuming charge of the country.
Rana, a Canadian national of Pakistani origin, is wanted in the 2008 Mumbai terrorist attacks case. This was Rana’s last legal chance not to be extradited to India.
Rana on November 13 filed a “petition for a writ of certiorari” before the US Supreme Court which was denied by the top court, a day after Donald Trump was sworn in as the American President.
Rana, 64, is currently detained at the Metropolitan Detention Centre in Los Angeles.
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CAG Report On Delhi Liquor Policy Scam Case: ‘₹ 2,026 Crore Loss’, ‘Violation In Issuance of Licences’ – DETAILS
New Delhi: A Comptroller and Auditor General (CAG) report on the now-scrapped excise policy by the Aam Aadmi Party (AAP) government in Delhi pointed out several “lapses” in the policy. The CAG report claimed that Rs 2,026 crore loss was incurred to the exchequer. The report was released days ahead of the Delhi Assembly Elections 2025. The report alleged that AAP leaders got “kickbacks”. Notably, it is a draft CAG report as it is yet to be tabled in the Delhi Assembly.
The CAG report also claimed that licence norms were flouted. Notably, the then deputy chief minister Manish Sisodia was heading the excise department when the policy liquor excise policy was introduced in Delhi. The report highlighted that Sisodia ignored recommendations by the expert panel over the policy.
It also pointed out that arbitrary decisions were taken without any approval from the Lieutenant Governor.
– The 2021 liquor policy caused a whooping loss of Rs over 2,000 crore.
– The entities bidding for the license were not financially strong, yet they were allowed to bid.
– The approval from the then Lieutenant Governor Anil Baijal and the cabinet was not taken.
– Deviation from the objectives of the policy.
– There is a lack of transparency.
– Violation in the issuance of licences.
Breakdown of the total losses:
As per the CAG report, some of the retailers did not surrender their licences before the expiry of the policy and they were not rendered by the AAP government causing the loss of Rs 890 crore. Zonal licensees were granted exemptions, which reported caused an additional loss of Rs 941 crore. Meanwhile, another license fee waiver of Rs 144 crores was also granted to zonal licensees on the pretext of the COVID restrictions.
The AAP questioned the existence of the CAG report on the Delhi liquor policy scam case.
Meanwhile, the Bharatiya Janata Party (BJP) and the Congress lhit at the AAP over the repoprt.
“… CAG has revealed the whole story of the corruption of AAP chief Arvind Kejriwal, who has played the role of a broker by destroying the happiness of Delhi… This is the same CAG report which Arvind Kejriwal used to wave in 2013 to fight against Sheila Dikshit and today the same CAG report has declared Arvind Kejriwal corrupt…” BJP leadre Manoj Tiwari told ANi.
“CAG has said that there has been a scam of Rs 2000 crores in the liquor policy… Now it is clear that he (Arvind Kejriwal) has done wrong… He has emptied the government treasury. If Rs 2000 crores have been spent in 6 months due to the liquor policy. If that scheme was still running, we would have suffered a loss of Rs 10,000-12,000 crores,” Congress leader Sandeep Dikshit stated as reported by the news agency.
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Uddhav Thackeray’s Shiv Sena bats for Kejriwal, accuses Delhi L-G of BJP bias, nudges Cong
Mumbai, Jan 9: The Shiv Sena(UBT) on Thursday raised questions about the neutrality of the Delhi Lieutenant Governor (L-G) during the election season, alleging that he was favouring the BJP. It has also attacked the Congress party for attacking AAP instead of BJP.
Uddhav Thackerary’s party though its mouthpiece Saamana has alleged that the L-G’s actions favour a particular political narrative.
The hard-hitting editorial titled ‘Haryana, Maharashtra and now Delhi’, said: “Delhi is a union territory where L-G is supreme. But he is now working as the Union Home Ministry’s agent. After the Model Code of Conduct for the upcoming Delhi Assembly election came into force, the L-G withdrew the powers of the chief minister and all ministers. He is working for the BJP which is quite dangerous. Even though the Election Commission is singing a tune of transparency in conducting the election, behind the curtains, a lot of things in favour of the BJP are happening. The BJP will stoop to any low to win the Delhi Assembly election. People should remain alert and careful.”
The Saamana editorial attacks the Prime Minister, Home Minister and BJP’s central ministers, saying that they have swung into action for the party’s victory. It says that the BJP has set the goal of defeating Arvind Kejriwal and capturing the Delhi Assembly and can go to any extent to defeat the Aam Aadmi Party in Delhi which is not appropriate.
It added, “On moral grounds, PM and HM should keep themselves away from the Delhi Assembly election which is in the larger interest of the democracy.”
“We will win everywhere and assume power is BJP’s policy. A new democracy has dawned in the country, wherein, not a single political opponent should exist. The country has witnessed it in Maharashtra and Haryana and now the time for Delhi. There have been irregularities in Delhi’s voters list as a lot of names have been excluded terming them Rohingyas and Bangladeshi residents. AAP had complained against it but the Chief Election Commissioner is not ready to accept the former’s argument. The CEC has claimed that EVMs cannot be hacked, it is not possible in India,” says the editorial.
The editorial has targeted its INDIA bloc ally, the Congress party for stepping up attacks against AAP instead of BJP.
“The contest in the Delhi Assembly election is between BJP and Aam Aadmi Party only. Congress party is in the fray and it is attacking Arvind Kejriwal and AAP instead of Bharatiya Janata Party. The people of Delhi must be surprised at this…,” claims the editorial. The editorial alleges that the BJP can go to any extent to hijack the Delhi Assembly election while appealing to the people to be careful and alert.
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