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Seesaw: Sharp FIIs outflow matched by DIIs’ inflows

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The sharp exodus of foreign investors funds from Indian equity market has been compensated by domestic investors, said Motilal Oswal Financial Services (MOFSL).

As per MOFSL report, FIIs continued to remain sellers in India as the global risk-off sentiment and the geopolitical situation have added to concerns of inflation, higher bond yields, and global rate hikes.

“This has resulted in $14.1 billion of outflows from the Indian market since Oct’21. This has been offset by DII buying of $16 billion over the same period.”

Besides, the report cited that current index correction masks the sell-off in the broader market.

Accordingly, while the Nifty is down 10 per cent from its October 2021 peak, the broader market has seen a much sharper sell-off.

“Of the NSE 500 constituents, 37 per cent of the stocks are trading more than 30 per cent lower from their respective 52-week highs.”

“Of the Nifty constituents, close to 50 per cent stocks are now trading at valuations that are at a discount to their respective 10-year average.”

Furthermore, one-third of Nifty constituents are trading at a premium of more than 10 per cent versus its 10-year average, demonstrating the two-faced nature of the index on valuations.

In addition, it pointed out that corporate earnings remain resilient, despite the challenges.

“The healthy earnings visibility can act as cushion in an otherwise fragile external situation. If the Russia-Ukraine conflict elongates and leads to elevated energy prices for longer, it may impact earnings estimates.”

“However, close to two-third of Nifty earnings are insulated or benefits from elevated energy prices, while one-third is adversely impacted.”

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Amarnath Yatra starting from July 3, police on every corner, security arrangements tested through mock drill

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Srinagar: With only three days left for the start of the Amarnath Yatra, the final phase of security preparations has been completed. Thousands of security personnel have been deployed and in the last few days, mock drills have been conducted at several places to identify the loopholes in the arrangements. According to officials, this time the security arrangements are more comprehensive, technical and coordinated than ever before. More than 10 Superintendents of Police (SP), 15 Deputy Superintendents (DySP) and hundreds of paramilitary forces and policemen have been deployed on the Yatra route to ensure smooth and safe pilgrimage.

Anti-terrorism drive intensifies

The Jammu and Kashmir Police, Army and CRPF have jointly launched aggressive counter-terrorism operations in Anantnag district. According to senior officers, more than 20 search operations are being conducted daily along the Yatra route and the surrounding forests. A senior officer said, “We cannot take any risk. Human and technical surveillance is going on along every inch of the route. All potential threats have already been neutralised.”

Monitoring by Home Ministry, deployment of central forces

The Union Home Ministry is keeping a close watch on the preparations for the Yatra. Central forces like BSF, ITBP and SSB have been deployed in sensitive areas, especially in high altitudes and forest areas. Officials said that this year unprecedented coordination is being seen between security and civil agencies. Travelers have been requested to pre-register, carry valid identity cards and follow the specified guidelines.

Yatra will start from July 3, unprecedented security cover

The annual pilgrimage to the Amarnath cave temple, located at an altitude of 3,880 meters, will begin from July 3. Tight security arrangements have been implemented on both the routes – Pahalgam in Anantnag and Baltal in Ganderbal. The Pahalgam route has been divided into 17 zones and 51 sub-zones and special officers, quick reaction teams (QRT), mountain rescue teams, anti-sabotage teams and traffic controllers have been deployed in each zone. The preparations have been checked through mock drills.

Emergency services, disaster management, medical teams and traffic police participated in the mock drill conducted recently. Scenarios like natural disaster, terrorist attack and health crisis were practiced in the drill, so that coordination and quick response capability could be tested among all the agencies. Along with this, there was an amazing integration of technology and logistics.

The administration has streamlined water, electricity, medical and sanitation facilities at all halts. Base camps and langars have been made ready for use after hygiene inspection. For the first time this year, technologies like high-definition CCTV, drone surveillance, satellite tracking, and AI-based facial recognition system have been incorporated in the security system. Special monitoring centres have also been set up.

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BJP wants to grab land in every UP district, alleges Akhilesh Yadav

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Lucknow, June 28: Samajwadi Party chief Akhilesh Yadav on Saturday launched a scathing attack on the BJP government in Uttar Pradesh, alleging that it was trying to usurp land in every district of the state.

Addressing a press conference, Yadav said the BJP was misusing bulldozers and government machinery, with the active support of party workers and the local administration, to forcibly acquire land.

He particularly pointed to Gorakhpur, the home turf of Chief Minister Yogi Adityanath, claiming irregularities in land registration there.

“The people of Gorakhpur should ask in whose name the maximum number of registries have been done,” Yadav said.

“If the truth about Gorakhpur comes out, the government will have to build a custody corridor there instead of passing on any inheritance. Compensation for land and houses is not being given fairly. The administration is pressuring locals into signing consent papers, using the police to instill fear, just so they don’t have to pay proper compensation,” Akhilesh Yadav alleged.

Accusing the government of cheating locals, he added, “People lost land in Ayodhya, came close to losing it in Banaras, and now Gorakhpur is next. It’s not just Gorakhpur’s land that’s being targeted — this mindset was also visible in Lucknow. Even their own advisor had to resign. I don’t know who he was colluding with — those he aligned with have now fled the country.”

Yadav also took aim at the RSS, criticising its demand to remove the words ‘Socialist’ and ‘Secular’ from the Preamble of the Constitution.

“Those who oppose the reservation don’t say it openly. Instead, they target the concepts of secularism and socialism. Their opposition to reservation is masked in these attacks,” he said.

Yadav accused the BJP and its ideological allies of trying to polarise voters. “They want to get votes by spreading hatred,” he alleged.

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Need to educate youth so that Emergency is not repeated: Delhi CM Rekha Gupta

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New Delhi, June 28: Delhi Chief Minister Rekha Gupta on Saturday recalled the murder of the Constitution during the Emergency imposed by former Prime Minister Indira Gandhi in 1975, highlighting the need for reminding youth about the dark chapter of democracy.

“Just as we stage Ramlila every year to tell youngsters that they should not become like demon king Ravana, this annual commemoration of the Emergency is needed to prevent the return of the dark chapter in future,” she said at a mock parliament organised by Mahila Morcha of Delhi BJP.

Highlighting the Emergency-related changes made in the Constitution, forced sterilisation, restriction on media and films, she said, “The Congress has only worked to retain power over the past 70 years. Even in the Shah Bano case, the then Congress government brought in a law to appease a community at the cost of the exploitation of women.”

She described Prime Minister Narendra Modi as “Guardian” of the nation, showcasing his vision to start women-friendly schemes, free cooking gas, toilets, tap water, nutrition scheme for women and the quashing of ‘Triple Talak’.

“It started with Beti Padhao, Beti Bachao and today it is Beti Badhao,” she said, underscoring the encouragement for women in the BJP to take up leadership roles.

“Today, when the country is giving a big role to women in decision-making and governance, we will also need to raise our ability to respond to the situation,” Rekha Gupta said, highlighting that a common worker of the BJP like her could become a Chief Minister.

“Who other than Sonia Gandhi is a prominent woman politician in the Congress?” she asked, urging women workers of the BJP to ensure that they play a significant role to oppose any other attempt being made to impose an Emergency like that by former PM Indira Gandhi.

In Delhi, when people want delivery of good service after 27 years of misrule in the city, we as women politicians must have the capability to understand the needs of people and deliver the goods, CM Gupta said.

Earlier, the Delhi BJP released a short video on its X handle as part of the Emergency 50 protest. The video carried the message: “Democracy wasn’t just paused. It was strangled and put behind bars, beneath fear and silence.”

The video titled ‘Emergency Never Again – June 25, 1975, The night democracy died’ shows a character, purportedly similar to late Prime Minister Indira Gandhi, walking away barefoot, leaving behind footprints on the ground that highlight the dark aspects of the Emergency.

As the character walks onto the screen, the ground highlights: “Constitution Torn, Democracy Strangled, Press Silenced, Voices Crushed, Opposition Arrested, Innocents Jailed, No Right to Life”.

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