K’taka MLC polls: Nominations likely today, BJP undecided on Yediyurappa’s son

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Bengaluru, May 23 | The political parties in Karnataka are likely to announce the list of candidates on Monday for the biennial election to the Karnataka Legislative Council.

The last date of submissions of filing nominations is Tuesday for seven vacant seats in the Council. The election will be held on June 3. The election was necessitated as the term of office of seven members is going to expire on June 14.

National parties ruling BJP and opposition Congress have failed to come to consensus on candidates. The tug of war in the Congress between state President D.K. Shivakumar and leader of Opposition Siddaramaiah have come into the open.

Party sources in the Congress said that both have sent their own list of candidates to the high command. Whereas in BJP, the party is yet to decide on the issue of ticket to former Chief Minister B.Y. Vijayendra as Yediyurappa’s sworn enemies within the party are opposing him by saying that it encourages family politics and creates a new power center in the state.

Regional party JD(S) leaders have left the matter to the discretion of former Prime Minister H.D. Deve Gowda.

The Congress leaders Shivakumar and Siddaramaiah are divided over issuing the ticket to former opposition leader in Council S.R. Patil. Siddaramaiah maintains that he is Lingayat from north Karnataka and it would help the party. Whereas Shivakumar is demanding that the opportunity should be given to any other leader from the community. Meanwhile, Rajya Sabha member Mallikarjun Kharge is also actively involved in the process and is demanding a ticket for his supporter Tippanna Kamakanur.

Meanwhile, Margaret Alva, senior Congress leader has demanded the high command to give an opportunity to Christian candidates this time under the minority quota.

The BJP is divided over allocating the ticket to Yediyurappa’s son Vijayendra. The party is taking time as the decision will have a direct impact on the participation of Yediyurappa in upcoming assembly elections.

Yediyurappa wants to anoint his son to a prominent cabinet position after getting him elected as MLC. He wants to ensure his son plays a major role in the upcoming Assembly elections. The party fears that Yediyurappa will once again hijack the party through his son.

The elections will be held for the seven vacant seats in the Karnataka Legislative Council between 9 a.m. to 4 p.m. on June 3. The process of counting of votes will also be completed on the same day. May 27 is the last day to take back the nominations.

BJP MLC and former DCM Lakshman Sangappa Savadi, Congress MLC’s Ramappa Timmapur, Allam Veerabhadrappa, JD(S) MLC H.M. Ramesh Gowda, Congress MLC Veena Achaiah, JD(S) MLC K.V. Narayanaswamy and BJP MLC Lehar Singh are retiring on June 14.

Going by the number of MLA’s in the Legislative Assembly, experts say that the ruling BJP will further strengthen its presence in the council. The party is expected to win four seats, Congress two seats and JD(S) will manage to retain one seat.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,500, Sensex gains 443 pts

Share Market Closing Bell: Nifty ends above 15,500, Sensex gains 443 pts

On a weekly expiry day, Nifty opened on positive note and have a dip to make an intraday low at 15367.50 level but showed bounce back moment as managed to close at 15556.65 level with a gain of 143 points. Bank Nifty closed the session at 33135 level with a gain of 289.70 points. 45 Out of Nifty 50 ended in green which suggest broad based buying.

All the sectoral indices managed to close in green expect Energy while Nifty Auto was top gainer. Among Nifty Stock, MARUTI, EICHERMOT, HEROMOTOCO & M&M were the top gainers, While RELIANCE, COALINDIA, POWERGRID & GRASIM were the prima laggards. India VIX closed at 20.88 level with a loss of 1.97%. On Technical Front, The Nifty has formed bullish candle but faced resistance at 21 Four-Hourly Moving Average i.e., 15647 which suggest crossing above the same can show more upside rally.

Nifty has been trading in range of 15200-15700 level while breaching either side can suggest further direction of breakouts. Nifty has given above 50-Hourly Moving Averages which indicate it can show upside moment in the counter. On the Nifty OI Data, On the call side ,the highest OI witnessed at 16000 level while on the put side was at 15500 Niftg level followed by 15300 levels. The momentum indicators Stochastic is trading with a positive crossover on a daily chart which suggest northward journey in the Nifty.

The Nifty may find support around 15200 levels while on the upside 15700 may act as an immediate hurdle. On the other hand, Bank Nifty has support at 32300 levels while resistance at 33800 levels.

Overall, Sector specific momentum has been observed, crossing above 15700 Nifty can show more upside rally.

Market entering into buy on dips pattern.

Palak Kothari
Senior Technical Analyst
Choice Broking

Source: Choice India

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The information contained in this post is source form the news agency or PR agency. We do not take any responsibility of accuracy of information. We have not made any modification or changes in original source content. This information only for general information purposes only. The information is provided by BhaskarLive.in and while we Endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.

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