Category Archives: News

Markets End Higher as IT and Pharma Stocks Lift Sensex, Nifty

Mumbai, June 22: Indian equity markets closed higher on the day, driven by strong gains in IT and pharmaceutical stocks, which boosted overall investor sentiment.

Benchmark indices BSE Sensex and NSE Nifty 50 ended in positive territory as buying activity strengthened across select sectors. IT stocks led the rally, supported by expectations of steady global demand and resilient earnings prospects, while pharmaceutical stocks also witnessed sustained investor interest.

Market participants noted that optimism in export-oriented and defensive sectors helped offset volatility in broader markets, contributing to the upward movement in indices.

Analysts suggest that continued momentum in IT and pharma segments may support near-term market stability, though global economic cues and institutional flows will remain key drivers of future direction.

SEBI Simplifies Margin Framework for Commodity Derivatives Supported by Physical Goods

June 22: The Securities and Exchange Board of India (SEBI) has eased margin requirements for commodity derivatives positions that are backed by the early pay-in of underlying goods, a move aimed at improving market efficiency and reducing costs for participants.

The regulatory change is expected to benefit traders, hedgers, and other market participants by providing margin relief when commodities are delivered in advance against derivatives positions. The measure is designed to better align margin requirements with the reduced risk associated with positions backed by actual goods.

SEBI said the revised framework will help strengthen the commodity derivatives ecosystem by encouraging greater participation and improving the ease of doing business in commodity markets. The move is also expected to support efficient price discovery and enhance liquidity across commodity exchanges.

Industry experts believe the relaxation could particularly benefit producers, processors, and traders who use derivatives markets to manage price risks. By lowering the margin burden on eligible positions, market participants may be able to deploy capital more efficiently while maintaining effective risk management practices.

The decision forms part of SEBI’s broader efforts to modernize India’s commodity markets and create a more robust regulatory environment that balances market growth with investor protection.

Market observers view the reform as a positive step toward deepening participation in commodity derivatives trading and strengthening India’s position as a growing commodities marketplace.

Captain Salima Credits Team’s Determination After India’s Nations Cup Triumph

June 22: India’s women’s hockey team captain Salima Tete has credited the squad’s unwavering focus and determination following the team’s successful campaign at the Nations Cup, saying the players entered the tournament with a clear goal of bringing the trophy home.

Reflecting on the title-winning performance, Salima said the team remained committed to its objective throughout the competition and displayed resilience in crucial moments. She noted that the players shared a strong belief in their abilities and worked collectively to achieve the desired result.

The victory marks a significant achievement for Indian women’s hockey, highlighting the team’s progress and growing confidence on the international stage. Players and coaching staff have been praised for their disciplined performances and ability to handle pressure during key matches.

Salima emphasized that the triumph was the result of consistent preparation, teamwork, and the dedication shown by every member of the squad. She also acknowledged the support of coaches, support staff, and fans who stood behind the team throughout the tournament.

Sports observers view the Nations Cup title as an important milestone that could provide further momentum to Indian women’s hockey as it prepares for future international competitions.

The captain’s remarks reflect the spirit and determination that guided the team throughout its successful campaign, culminating in a memorable title victory for India.

MSCI Rejig May Drive INR 30,000 Crore Inflows into Indian Equities: Report

June 22: A recent market report indicates that the upcoming MSCI index rejig could result in foreign inflows exceeding ₹30,000 crore into Indian equities, reflecting sustained global investor interest in the country’s financial markets.

The expected inflows are likely to be driven by global fund managers and passive investment funds that track MSCI indices, as they rebalance their portfolios in line with revised index weightings. Such adjustments typically lead to increased allocation toward markets and stocks with higher representation in the index.

According to the report, large-cap and index-heavy stocks are expected to be the primary beneficiaries of the rebalancing exercise, as they tend to carry higher weightage in global benchmark indices. This could provide near-term liquidity support and influence stock-specific movements in the domestic market.

Analysts suggest that India continues to remain a key focus area for foreign institutional investors, supported by strong macroeconomic fundamentals, robust corporate earnings, and long-term growth prospects. The MSCI rejig is expected to act as an additional catalyst for capital inflows into the market.

However, experts also caution that actual inflow figures may vary depending on global risk sentiment, currency movements, and broader macroeconomic conditions at the time of implementation. Volatility in global markets could also influence the pace and scale of fund allocations.

Market participants are expected to closely track the rebalancing process, as it may have a significant impact on liquidity trends, sectoral performance, and overall market direction in the short term.

Overall, the report highlights continued confidence among global investors in Indian equities, reinforcing the country’s position as a key destination in emerging market portfolios.

Odisha CM Announces 40% Hike in Welfare Assistance for Lawyers

Bhubaneswar, June 22 (UDN): In a major relief for the legal fraternity, Chief Minister Mohan Charan Majhi has approved a 40 per cent increase in financial assistance provided under the Odisha State Advocates’ Welfare Fund.

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According to a release issued by the Chief Minister’s Office (CMO), the enhanced assistance will be extended to practicing advocates upon retirement and to their family members in the event of the advocate’s death.

The decision is expected to benefit thousands of lawyers practicing in courts across the state. The previous revision in the welfare assistance amount was carried out in 2021.

Under the revised provisions, the family of an advocate with up to five years of practice will receive ₹1.05 lakh in the event of the lawyer’s death. The financial assistance will increase progressively with each additional year of legal practice.

Advocates with 30 years of service will now be eligible for a maximum assistance of ₹6.30 lakh upon retirement. In case of their demise, the same amount will be provided to their next of kin.

The enhancement in welfare assistance is aimed at strengthening the social security framework for advocates and providing greater financial support to lawyers and their families in recognition of their contribution to the justice delivery system.

Odisha Disburses April–May Pensions to Over 17.6 Lakh Beneficiaries

Bhubaneswar, June 22: The Government of Odisha has released pensions for the months of April and May to over 17.6 lakh beneficiaries, covering nearly 91.5% of eligible recipients under various social security schemes.

According to Social Security and Empowerment of Persons with Disabilities Minister Nityananda Gond, a total of 17,60,435 beneficiaries out of 19,22,525 have received their pension amounts directly into their bank accounts.

The beneficiaries include senior citizens, widows, persons with disabilities, and other vulnerable groups covered under multiple welfare programmes aimed at providing financial support and social security assistance.

The Minister stated that the remaining beneficiaries will receive their pending payments once banking and technical processes are completed. He added that the government is working to ensure that all eligible recipients are covered without further delay.

The state government has also initiated the process for June pension disbursement and reiterated its commitment to ensuring timely and uninterrupted payments going forward.

Officials noted that minor delays had occurred due to technical issues in the payment system, but corrective measures are being implemented to streamline future disbursements.

The initiative reflects the government’s continued focus on welfare delivery and financial support for vulnerable sections of society.

Assam Products Gain Global Reach, Says Chief Minister Himanta Biswa Sarma

Guwahati, June 22: Himanta Biswa Sarma has highlighted the growing global presence of products from Assam, stating that items “made in Assam” are now being enjoyed by consumers across international markets.

Speaking on the state’s expanding trade footprint, the Chief Minister noted that Assam’s traditional and locally produced goods are gaining wider acceptance abroad, reflecting improvements in branding, quality enhancement, and market access initiatives.

He said that the state’s focus on promoting indigenous products has helped local industries and artisans reach new markets beyond India, strengthening rural livelihoods and supporting small producers.

Officials pointed out that Assam’s export potential has been growing steadily, driven by sectors such as tea, handicrafts, agricultural products, and processed goods. Efforts to improve packaging, certification, and global outreach have further supported this expansion.

The government has also been working to promote local entrepreneurship and strengthen supply chains, enabling small businesses and self-help groups to connect with national and international buyers.

Industry observers say the increasing global visibility of Assam-made products reflects a broader trend of regional brands from India gaining traction in overseas markets.

The statement underscores the state’s continued push to position itself as a key contributor to India’s growing export ecosystem while preserving its cultural and artisanal identity.

Baba Ramdev Mesmerised by Lord Jagannath’s Darshan at Puri Srimandir

Puri, June 22 (UDN): Renowned yoga guru Baba Ramdev visited the sacred Shree Jagannath Temple in Puri on Sunday and offered prayers to Lord Jagannath on the occasion of the International Day of Yoga.

During his visit to the 12th-century shrine, Baba Ramdev had darshan of the Holy Trinity and sought blessings from Lord Jagannath. He also interacted with temple officials and servitors during his visit.

Marking the occasion, the Shree Jagannath Temple Administration felicitated the yoga guru with the sacred Khandua Pata and offered him Mahaprasad as a mark of reverence and tradition.

Speaking to the media after offering prayers, Baba Ramdev expressed deep spiritual satisfaction over his visit to the Srimandir.

“I am mesmerised by the divine darshan of Lord Jagannath on the occasion of International Yoga Day. I prayed for the good health, happiness and prosperity of the people of the country. India has already emerged as a global leader in yoga, and I pray that the nation continues to progress in every sphere,” he said.

Baba Ramdev also urged people to make yoga an integral part of their daily lives, stressing that regular practice of yoga is essential for maintaining physical and mental well-being.

Poonam Maharana Crowned Miss Universe Odisha 2026, Advances to National Level

Bhubaneswar, June 22: Poonam Maharana has been crowned Miss Universe Odisha 2026, securing her place in the Miss Universe India national finals after a state-level selection event held in Pune, Maharashtra.

Representing Odisha, Poonam impressed the jury with her confidence, communication skills, and clarity of vision, standing out among participants from across the country.

Hailing from Ganjam district, she is a B.Tech graduate in Computer Science Engineering with a specialisation in Artificial Intelligence and Machine Learning. Her profile reflects a blend of academic achievement and emerging leadership qualities among young Indian women.

Her advocacy work focuses on environmental protection, social service, and entrepreneurship, with an aim to create meaningful social impact and encourage youth engagement in community development.

Following her win, Poonam said the title represents responsibility as much as recognition. She expressed gratitude to her family and mentors for their constant support throughout her journey.

She now prepares to compete at the national level, with aspirations of advancing further on the Miss Universe platform while continuing her work in social development initiatives.

Odisha Achieves 99.75 pc Form Distribution in Roll Revision

Bhubaneswar, June 22: The Special Intensive Revision (SIR) of the electoral roll in Odisha has entered its final stage, with enumeration forms distributed to 99.75% of voters and digitisation of over 81% of collected data completed, officials said on Sunday.

Reviewing the progress of the exercise, Chief Electoral Officer R. S. Gopalan visited multiple digitisation centres under the Bhubaneswar Municipal Corporation (BMC) and directed officials to expedite remaining work ahead of the June 28 deadline.

According to official figures, enumeration forms have been distributed to 3,33,15,897 electors across the state, covering nearly the entire voter base included in the revision drive. The ongoing exercise aims to ensure a more accurate, updated, and error-free electoral roll.

Officials informed the CEO that data entry for 2,71,31,312 electors has already been completed, representing 81.23% of the total forms collected. He instructed field teams to accelerate digitisation work and complete the remaining entries on a priority basis within the stipulated timeline.

During his visit to digitisation centres, the CEO reviewed operational processes and emphasised the importance of ensuring inclusive voter participation. He directed officials to make certain that no eligible elector is left out of the updated voter list.

“The participation of every eligible voter is essential for a healthy democratic process,” Gopalan said while reviewing the progress of the revision exercise.

The state election machinery has set June 28 as the deadline for completing all SIR-related activities, including verification and final data entry. Authorities said efforts are being intensified across districts to ensure timely completion ahead of publication of the revised electoral roll.

Senior officials from the Chief Electoral Officer’s office and the BMC accompanied him during the inspection.