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Mumbai: Indian stock markets rallied on Monday after the <keyword id="20032950" type="General" weightage="20" keywordseo="BJP-led-government" source="keywords">BJP-led government</keyword> secured a majority in the latest state elections in Maharashtra. The <keyword id="20641216" type="General" weightage="100" keywordseo="Nifty-50" source="keywords">Nifty 50</keyword> index gained more than 1.45 per cent or 346.30 points to open at 24,253.55 points, while the BSE <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> index surged 1,076 points or 1.36 percent to open at 80,193.47 points. Experts noted that the election results have an impact on the markets today, and if past trends are followed, the markets may witness some rally amid the return of the BJP in the Maharashtra state elections. <keyword id="20161891" type="General" weightage="20" keywordseo="Ajay-Bagga" source="keywords">Ajay Bagga</keyword> Banking and Market Expert stated that "The just concluded elections in Maharashtra, the results of which were declared on November 23rd, will have a positive immediate impact on the stock markets. The landslide win for the BJP lead coalition in the Maharashtra state elections could lead to a short-term boost to the Indian stock markets which have been in a declining mode" He further added "Investors will interpret this mandate as favourable for the capex and infrastructure push that is ongoing in Maharashtra. The beneficiary sectors of this election are industrials, infrastructure, manufacturing, real estate and financials". In the sectoral indices on the National Stock Exchange, <keyword id="20065014" type="General" weightage="20" keywordseo="Nifty-Realty" source="keywords">Nifty Realty</keyword> and <keyword id="19941314" type="General" weightage="20" keywordseo="Nifty-PSU-Bank" source="keywords">Nifty PSU Bank</keyword> rallied with a surge of more than 2 percent, while other major indices also gained more than 1.5 per cent, including Nifty Metal, Nifty Media, and Nifty Oil &amp; Gas. In the Nifty 50 list, 49 stocks gained during the opening session, while only one stock declined. Shri Finance opened as the top gainer in the Nifty 50. The shares of the AdGroup also surged around 2 percent at the time of filing this report. <keyword id="19967296" type="General" weightage="20" keywordseo="Adani-Green" source="keywords">Adani Green</keyword> also climbed around 4 percent. "We are most likely to break the falling 20-day average that lies at 24,030, which will be the first time that'd happen since the record high of 27th September. Seasonality trends between now and the end of the year have been historically positive, with the Nifty rising 80% of the time during this period with an average return of over 4 per cent" Akshay Chinchalkar, Head of Research, Axis Securities. In other Asian markets, Japan and South Korea indices rallied. The Nikkei 225 index surged more than 1.5 percent, South Korea's Kospi also rose by 1.5 percent, Taiwan's Weighted Index was up by 0.48 percent, while Hong Kong's Hang Seng index was down marginally by 0.14 percent at the time of filing this report.

Nifty, Sensex rallied around 1.5 % after Maharashtra election results, Experts noted short term rally

The <keyword id="19895782" type="General" weightage="20" keywordseo="Election-Commission" source="keywords">Election Commission</keyword> has received eight applications from aggrieved <keyword id="19902220" type="General" weightage="20" keywordseo="candidates" source="keywords">candidates</keyword>, including those from the <keyword id="19894848" type="General" weightage="20" keywordseo="BJP" source="keywords" meta.keywordsubtype="org" meta.entityname="BJP" meta.hostid="153" meta.entityid="BJP">BJP</keyword> and the <keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="153" meta.entityid="Congress">Congress</keyword>, for verification of tampering or modification in micro-controller chips embedded in the EVMs post declaration of Lok Sabha election results on June 4. Terming the suspicion of manipulation of the electronic voting machines "unfounded", the <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords">Supreme Court</keyword> had on April 26 rejected the demand for reverting to the old paper ballot system. But at the same time, the top court had opened a window for the aggrieved unsuccessful candidates securing second and third places in the poll results and allowed them to seek verification of micro-controller chips embedded in five per cent EVMs per assembly constituency on a written request upon the payment of a fee to the poll panel. BJP's Ahmednagar (Maharashtra) candidate Sujay Vikhe-Patil has sought verification of the machines from 40 <keyword id="20300567" type="General" weightage="20" keywordseo="polling-stations" source="keywords">polling stations</keyword>. Vikhe-Patil had lost to Nilesh Lanke of NCP (Sharad Pawar) faction. A YSRCP and a DMDK candidate too have applied for the verification, according to data shared by the poll panel. According to the EC, eight parliamentary seats spread across six states are involved. The total number of polling stations for which verification has been sought is 92. Candidates who come second or third and seek verification of the EVMs will have to pay Rs 47,200 per EVM set, according to the standard operating procedure issued by the EC on June 1. According to the EC's Standard Operating Procedure (SOP), the cost submitted by manufacturers BEL and ECIL to carry out EVM "check and verification" is Rs 40,000 (plus 18 per cent GST) per set of EVM. "In addition to the cost incurred by the manufacturers, there are also administrative costs like cost of labour to shift the units, CCTV coverage, electricity charges, videography costs and various other operational costs at the district election officer level," the document said. It, however, said to make the <keyword id="21143428" type="General" weightage="20" keywordseo="verification-process" source="keywords">verification process</keyword> "more accessible" and inclusive in compliance to the referred mandate of the Supreme Court, it is decided that instead of going purely by the actual economic costs incurred, the administrative expenditure on <keyword id="22122362" type="General" weightage="100" keywordseo="EVM-verification" source="keywords">EVM verification</keyword> will be treated as "election expenditure and borne by the central or state government, as the case may be". "Accordingly, the administrative charges will be waived for the applicants -- the same shall not be charged to the applicants," it noted. The charges for EVM verification to be paid by the applicant candidate is for the current financial year 2024-25 -- till March 31, 2025, it said. An EVM set has at least one Ballot Unit, one Control Unit and a <keyword id="19975285" type="General" weightage="20" keywordseo="vvpat" source="keywords">VVPAT</keyword> machine. Separately, YSRCP and BJD candidates from Andhra Pradesh and Odisha respectively have also applied for EVM check following the announcement of assembly results on June 4. Assembly polls in Andhra Pradesh, Odisha, Sikkim and Arunachal Pradesh were held along with the Lok Sabha elections. In the verification exercise for assembly poll results, total assembly constituencies involved are three where verification has been sought in 26 polling stations. According to the SOP, the concerned state chief electoral officer (CEO) was required to communicate to the manufacturers the consolidated list of applicants within 30 days of the date of declaration of results -- by July 4. The CEOs have already conveyed the same to the manufacturers 15 days ahead of the schedule, the EC said. The technical SOP enumerating the methodology and steps for checking and verification of burnt memory/ micro-controller of the EVM units will be issued by the EC in due course.

EC receives applications for EVM verification on 8 LS seats in 6 states

<ul><li><keyword id="6366108" type="UNKNOWN" weightage="20" keywordseo="ajit-pawar">Ajit Pawar</keyword>, nephew of Sharad Pawar, is contesting the <keyword id="2472094" type="PERSON" weightage="20" keywordseo="Maharashtra-assembly-election">Maharashtra Assembly election</keyword> from <keyword id="506914" type="PERSON" weightage="20" keywordseo="Baramati-constituency">Baramati constituency</keyword>.</li><li>According to the Election Commission, Pawar is set to win by a margin of over 1 lakh votes.</li><li>Pawar announced he was resigned from politics after being accused of a ₹25,000 crore scam.</li><li>Within a day, Pawar announced that he's going to continue to contest the state election.</li></ul> Ajit Pawar, nephew of Nationalist Congress Party (NCP) patriarch Sharad Pawar, resigned as a Member of the Legislative Assembly (MLA) and quit politics altogether on September 27 — yet, his name was still on the ballots in Maharashtra on October 21. And, now he's won the in Baramati constituency with a large margin of 1.5 lakh. Pawar was able to garner 83.24% of vote share which he got nearly 2 lakh votes to his name. In comparison, the BJP candidate Gopichand Kundlik Padalkar trailed behind with 30,282 votes, which is only 12.92% of the vote share. Also read: 
 
 
 
 
 
 
 
 <div type="NEWSINCONTEXT" target="false" refhostid="261" refmsid="71734588" refmstype="2" refmssubtype="0"><cdata><![CDATA[Dynasty candidates contesting Haryana and Maharashtra Assembly election 2019]]></cdata></div>
















 Fighting the election from Baramati constituency, he’ll be going up against 10 other candidates, including Gopichand Kundlik Padalkar from the Bharatiya Janata Party (BJP). The high-profile leader of the NCP, known fondly as Ajit Dada, hasn’t had an easy run. Amid campaigning for the election, he was accused of money laundering by the Enforcement Directorate - a ₹25,000 crore scam to do with the Maharashtra State Cooperative Bank (MSCB). He’s made headlines for all the wrong reasons but he has still not be written off by the political watchers in the state. Also read: 
 
 
 
 
 
 
 
 <div type="NEWSINCONTEXT" target="false" refhostid="261" refmsid="71731412" refmstype="2" refmssubtype="0"><cdata><![CDATA[Maharashtra Assembly Election 2019 results, BJP-Sena combine leads in over 163 seats and Congress-NCP in 93]]></cdata></div>
















 After Pawar’s unexpected resignation, he held a press conference within a day to apologise and announce that he will continue to contest the election. "I put in my papers before the speaker's personal assistant at the state assembly yesterday because I felt responsible for Sharad Pawar's name turning up in the matter. I apologise for taking such a decision without telling anybody," Making the fight tougher for Ajit Pawar, party chief Sharad Pawar and Baramati MP Supriya Sule didn’t hold any rallies for Pawar — instead it was his wife, son and other leaders campaigned for him. Pawar’s past The current MSCB scam is the second money laundering allegation leveled against Pawar. Back in 2012, Pawar resigned as the Water Resources Minister after allegations of ₹20,000 irrigation scam. He made a comeback mere months later, when he was sworn in as the deputy CM after getting a clean chit from the government. Baramati, home field of the Pawars, is pegged as a homage to the ‘Sharad Pawar Model of Development’ by the NCP. What was once a primarily agrarian constituency is now filled with automobile units, distilleries, textile and sugar mills, according to the party. After the Assembly election in 2009, Pawar asserted that he would become the deputy chief minister of Maharashtra but lost out to Chhagan Bhujbal. See also: <a href="https://www.businessinsider.in/politics/elections/news/dynasty-candidates-contesting-haryana-and-maharashtra-assembly-election-2019/articleshow/71734588.cms">Dynasty candidates contesting Haryana and Maharashtra Assembly election 2019</a> <a href="https://www.businessinsider.in/politics/elections/news/bhupinder-singh-hooda-haryana-election-results-2019/articleshow/71734070.cms">Bhupinder Singh Hooda is leading – forging an unbreakable bond with his Garhi Sampla constituency</a> <a href="https://www.businessinsider.in/politics/elections/news/dhiraj-deshmukh-maharashtra-assembly-election-result-2019/articleshow/71730385.cms">Deshmukh brothers are looking for a Congress win in Latur</a>

Ajit Pawar wins in Baramati with more than 1.5 lakh margin

<ul><li>The Nationalist Congress Party (NCP), Bharatiya Janata Party (BJP), and the Indian National Congress (INC) all have dynasty candidates in the fray.</li><li>The Haryana and Maharashtra Assembly election 2019 even has dynasty candidates from the same family going head to head.</li><li>Some are looking to take their family legacy forward, while others are looking to make a mark of their own. </li></ul>Haryana has been a hotbed for dynasty politics for decades and it’s not different for the Assembly election 2019. Maharashtra, on the other hand, is seeing a lot more candidates from political families contesting the election this time around. Not just from Congress — the party normally under the lens for dynasty politics — but also from the BJP, Shiv Sena and the Nationalist Congress Party (NCP). Some candidates are looking to carry their family legacy forward, like the Hoodas in Haryana and <a href="https://www.businessinsider.in/politics/elections/news/dhiraj-deshmukh-maharashtra-assembly-election-result-2019/articleshow/71730385.cms">Deshmukhs</a> in Maharashtra. Others are contesting the election against their own family members for the same constituency, like the Mundes. Here’s a quick look at the dynasty candidates waiting on the results of the Maharashtra and Haryana Assembly election today:

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Nifty, Sensex rallied around 1.5 % after Maharashtra election results, Experts noted short term rally

ANI

EC receives applications for EVM verification on 8 LS seats in 6 states

PTI

Ajit Pawar wins in Baramati with more than 1.5 lakh margin

Prabhjote Gill

Dynasty candidates contesting Haryana and Maharashtra Assembly elections 2019

Prabhjote Gill

Dynasty candidates contesting Haryana and Maharashtra Assembly election 2019

NCP winner candidate list for Maharashtra state elections

BI India Bureau

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