WEDNESDAY 1 DEAD, 30 INJURED AS TURBULENCE HITS SINGAPORE AIRLINES FLIGHT 22 The London-Singapore flight encountered “sudden extreme turbulence” mid-air and descended 6,000 feet in just three minutes MAY, 2024 epaper.morningstandard.in facebook.com/TheMorningStandard X.com/TheMornStandard ISRAEL FIREFIGHTING AS ALLY BACKS ARREST CALL EMERGENCY LANDING IN BANGKOK The world’s top war crimes court seeks arrest warrants for Israeli and Hamas leaders, a move backed by France and 3 European countries A CAPITAL VIEW OF NEWS PAGE 11  NEW DELHI Markets vote $5 tn ahead of poll results THE total market capitalisation of all BSE-listed companies on Tuesday touched the $5-trillion mark for the first time. With this, India joins the ranks of the US, China, Japan, and Hong Kong, where the stock market is valued at over $5 trillion. It has come at a time when extreme volatility, triggered by concerns over the outcome of the ongoing Lok Sabha elections, is keeping investors on their toes. Aided by a strong rally in metal stocks, the market capitalisation of all BSE-listed companies reached an all-time high of `414.6 lakh crore ($5 trillion) on Tuesday. The BSE Sensex closed 53 points, or 0.07%, lower at 73,953.31, while the NSE Nifty 50 ended the day 27 points, or 0.12%, higher at 22,529.05. Since the start of this calendar year, the m-cap of BSE-listed firms has risen by more than $630 billion. This sharp jump in valuation is mostly fuelled by M-CAP JOURNEY A R S H A D K H A N @ New Delhi BSE-listed firms’ valuation touched $1-trillion level on May 28, 2007. It took 10 years to add another $1 trillion, on July 10, 2017. But the latest $1 trillion needed just six months $4 TN $3 TN EQUITY VALUATION SURPASSES INDIA’S GDP $2 TN $1 TN MAY 28, 2007 spectacular rallies in mid- and small-cap stocks with their respective indices hitting many fresh highs during the period. The BSE Sensex and NSE Nifty , whose constituents are blue chips, have seen limited upside of 2-3% so far in 2024. V K Vijayakumar, chief investment strategist at Geojit Financial Services, said the $5-trillion market cap reflects the sustained momentum of the Indian stock market. While the long-term prospect No inheritance, people alone are successor: Modi $5 TN JULY 10, 2017 MAY 4, 2021 NOV 29, 2023 MAY 21, 2024 of India’s equity market remains strong, the short-term movement will be guided by the election results. Most market experts are going by the conviction that Prime Minister Narendra Modi-led NDA will form the next government in June. However, they fear a lower seat count for the BJP might spoil the party for investors. They also believe that a win by the opposition INDIA bloc can cause a big correction in the market. At $5 trillion, Indian equities are valued at more than the country’s GDP, pegged at $3.7 trillion (FY24 estimate). The gap between the m-cap and GDP has widened in the past two years. But India’s GDP is also growing and is expected to reach $5 tn in the next three years I have spent my first 10 years in power filling the potholes left by the Congress. I intend to speed up progress in the next term — Narendra Modi, Prime Minister Alleges that Cong wanted to change Constitution to snatch quota from Dalits R A M A S H A N K A R @ Maharajganj (Bihar) PRIME Minister Narendra Modi on Tuesday sought to strike an emotional chord with the people of Maharajganj in Bihar’s Siwan district during an election rally saying he was , leaving no viraasat (inheritance) since he considered the people of the country as his only waaris (successor). “Modi is one such person who has no inheritance. For me, you are my successor, you are my heir,” he told the gathering. “That’s why I have to sacrifice myself to make your, and your children’s, future bright.” Modi was rebutting Arvind Kejriwal’s barb that the PM was actually seeking votes for Home Minister Amit Shah as his successor, since he could retire on turning 75 next year, if he were to go by his self-set age cap for his party leaders. Kejriwal first made the allegation on May 11, a day after he walked out of Tihar jail on interim bail, and repeated it on Monday last despite Shah rubbishing the speculation. As for Modi, he said he will work harder to ensure India becomes a developed country. “I guarantee you, I will work hard for you day and night, harder than before. For you, for the future of your children, I want to build a developed Bihar, a developed India,” he said. He alleged that the Congress wanted to change the Constitution to ‘snatch’ quota from the SCs, STs and OBCs and hand it over to those who indulge in ‘vote jihad’. “Had Babasaheb Ambedkar not been there, former PM Jawaharlal Nehru would not have allowed SC/ST reservation,” he added. In a veiled attack on leaders like Rahul Gandhi, Akhilesh Yadav and Tejashwi Yadav, Modi said they were born with silver spoons. “Someone is saying that they will dig Modi’s grave. The prince of the Congress (Rahul) wants to see tears in Modi’s eyes. Those who are born with a silver spoon don’t know what hard work is. Someone is saying that after June 4, Modi will have bed rest. But I pray to God that there should be no bed rest in the life of the citizens of the country he said. .” MORE REPORTS ON PG 5, 6, 7 & 10 RAPS CONG SILENCE Modi accused Congress ‘royal family’ of silence over controversial remarks made by its leaders and allies against people of Bihar in Punjab, T’gana and TN. In a veiled attack on Rahul Gandhi, Akhilesh Yadav and Tejashwi Yadav, Modi said they were born with silver spoons L-G calls out ‘CM’s silence’ Brij Bhushan says not on Maliwal case, AAP retorts guilty as charges in sex E X P R E SS N E WS S E R V I C E @ New Delhi TAKEN TO MUMBAI AAP’s Rajya Sabha MP Swati Maliwal on Tuesday received support from L-G VK Saxena in her alleged assault case involving Arvind Kejriwal’s aide Bibabh Kumar. The LG said Maliwal called him out of sheer anguish, “describing at length her traumatic experience.” The L-G wrote to the CM—its contents were later posted on ‘X’—and attacked him on his “deafening silence” on the case, stating that his inaction “speaks volumes about his stance on the safety of women.” In a counter, AAP said the LG’s letter proved “Maliwal is working at the behest of BJP .” The police on Saturday arrested Kumar after Maliwal ac- Bibhav Kumar was on Tuesday taken to Mumbai for the retrieval of data from his iPhone, which, according to cops, he formatted a day before getting arrested. P4 cused him of assaulting her on May 13 at the CM’s official residence in Civil Lines. In a statement on ‘X’, Saxena said: “I am deeply distressed over the unfolding media narrative… Yesterday, she called me out of sheer anguish, describing at length her traumatic experience and the subsequent intimidation and shaming that she is being subjected to. She also expressed concerns over reported tampering of evidence and coercion against her.” EXPRESS READ Dad of teen accused EC poser to BJP held in Porsche crash candidate in Tamluk The Sunday incident of a Porsche car being driven at 150km/hr by a drunk teenager ran two youth over in Pune has drawn flak from politicians and others, especially after the minor was given bail 15 hours after the incident. After an uproar, police on Tuesday arrested builder Vishal Agarwal for the acts of his 17-year-old son. P9 EC has issued an order barring BJP leader Abhijit Gangopadhyay from campaigning for 24 hours from 5 pm of May 21 for his “derogatory remarks” against Mamata Banerjee. Gangopadhyay, the former Calcutta HC judge who is BJP’s candidate from Tamluk, has been pulled up for making a low-level personal attack on the TMC chief. P7 harassment case framed U J W A L J A L A L I @ New Delhi FORMER Wrestling Federation of India (WFI) chief and BJP leader Brij Bhushan Sharan Singh pleaded not guilty after a Delhi court framed charges against him in a sexual harassment case filed by five women wrestlers. “Why will I plead guilty when I have not done anything?” Singh said and pleaded not guilty to the charges before Additional Chief Metropolitan Magistrate Priyanka Rajpoot and claimed trial. The court also framed charges of criminal intimidation against co-accused and former WFI assistant secretary Vinod Tomar in the case. Delhi Police filed a chargesheet in the case against Singh on June 15, 2023, under sections 354 (assault or criminal force to woman with intent to outrage her modesty), 354A (sexual harassment), 354D (stalking) and 506 (criminal intimidation) of the Indian Penal Code. Six women wrestlers had submitted a complaint of sexual harassment at the Connaught Place police station against him on April 21 last year. The police, after the Supreme Court’s nudge, registered two FIRs on April 28. Later, one of the FIRs on allegations by a minor under the Protection of Children from Sexual Offences (POCSO) Act was dropped after her dad claimed he had lodged a false complaint. Subsequently, the police filed a cancellation report in the matter. On Monday the Patiala House Court , deferred its order on the cancellation report. Judge Chhavi Kapoor, a special (POCSO) judge, postponed the ruling to July 27. It is scheduled to be discussed at 2 pm on that day .  J8.00  PAGES 14 The Boeing 777 flight carrying 211 passengers and 18 crew members was forced to make an emergency landing in Bangkok. Kittipong Kittikachorn, general manager of the Suvarnabhumi Airport, said at a press briefing that a 73-year-old British passenger died on the flight, likely due to heart attack. Several people, including crew, were hurt. Three Indians were on the flight