Signalling momentum ahead of the 2026 Tamil Nadu Assembly elections, Edappadi K Palaniswami on Friday said seat-sharing talks with the Bharatiya Janata Party would be finalised within four days following his meeting with Union Home Minister Amit Shah in Delhi.

Palaniswami, who serves as the general secretary of the All India Anna Dravida Munnetra Kazhagam, expressed confidence that negotiations would be concluded smoothly based on a “give-and-take” formula focused on winnability. He also took a swipe at the ruling Dravida Munnetra Kazhagam, suggesting delays in its own alliance discussions.

Union Minister Piyush Goyal is expected to visit Chennai soon, further accelerating alliance-building efforts. The AIADMK is also preparing to release its election manifesto within a week.

Likely seat-sharing formula emerges

While Palaniswami did not reveal specific numbers, sources indicate the AIADMK is aiming to contest around 165 seats. The remaining seats could be distributed among allies, including the BJP, Pattali Makkal Katchi, Amma Makkal Munnetra Kazhagam led by T T V Dhinakaran, and the Tamil Maanila Congress.

In the 2021 Assembly elections, the BJP and PMK had contested 20 and 23 seats respectively, securing four and five wins. The revised formula suggests a recalibration of alliance strengths ahead of the high-stakes 2026 polls.

‘Delhi visits necessary for coordination’

Responding to criticism over his frequent visits to the national capital, Palaniswami defended his outreach to BJP leadership. He said such meetings were necessary given the busy schedules of senior leaders like Amit Shah, who are handling elections across multiple states.

“I have come to meet Amit Shah twice, as he is busy with elections in five states,” he said, underlining the need for coordination at the national level.

No alliance with Vijay’s TVK

Dismissing speculation about new alliances, Palaniswami ruled out any talks with actor-turned-politician Vijay and his party, Tamilaga Vettri Kazhagam.

“Neither we nor TVK held talks,” he stated, indicating that the electoral contest would largely remain between the AIADMK-led and DMK-led fronts.

Criticism of DMK and internal damage control

Targeting the DMK government, Palaniswami alleged a deterioration in law and order, pointing to rising crimes against women and corruption. He also accused the government of failing to implement key welfare schemes.

At the same time, he sought to contain recent controversies involving AIADMK leaders, stating that former ministers who made objectionable remarks had acknowledged their mistakes and apologised.

High stakes for AIADMK and Palaniswami

The 2026 Assembly election is being seen as a crucial test for both the AIADMK and Palaniswami. Since the death of former Chief Minister J Jayalalithaa, the party has faced a series of electoral setbacks, including the 2019 and 2024 Lok Sabha elections and the 2021 Assembly polls.

The AIADMK had previously allied with the BJP in 2019 and 2021, a partnership often viewed as challenging in Tamil Nadu’s political landscape. In the 2024 Lok Sabha elections, both parties contested separately but failed to secure victories.

For Palaniswami, the upcoming election represents a critical opportunity to establish his leadership and revive the party’s political standing.

Former Prime Minister H. D. Deve Gowda has responded sharply to remarks made by Congress president Mallikarjun Kharge in the Rajya Sabha, rejecting the suggestion that he chose to align with Prime Minister Narendra Modi over the Congress.

War of words in rajya sabha

During his farewell speech in the Upper House, Kharge made a light-hearted remark about Deve Gowda’s political journey, saying he had “dated” the Congress but ultimately “married” Modi. The comment drew laughter across the House, including from the Prime Minister, who was present at the time.

Kharge also noted his long association with Deve Gowda, saying he had known him for over five decades but was unsure why the Janata Dal (Secular) leader shifted alliances.

Deve gowda’s ‘forced marriage’ reply

In a statement issued later, Deve Gowda said he was not present in the House when the comment was made as he had left for Bengaluru for Ugadi celebrations. Responding in similar metaphorical language, he said his association with the Congress was a “forced marriage” that eventually turned into an “abusive relationship.”

He asserted that his party did not leave the Congress alliance, but was instead compelled to move on after being sidelined.

Reference to 2018 karnataka alliance

Deve Gowda also revisited the 2018 Karnataka political developments, stating that the Congress leadership, including Ghulam Nabi Azad, had proposed his son H. D. Kumaraswamy as Chief Minister. He claimed he had instead suggested Kharge’s name, in the presence of leaders like Siddaramaiah.

Despite this, Kumaraswamy eventually took charge as Chief Minister after the Congress-JD(S) alliance formed the government.

Alliance collapse and aftermath

The coalition government collapsed in 2019 after multiple MLAs from both parties defected, leading to the fall of the government. Deve Gowda alleged that the Congress failed to act against those responsible for triggering the defections.

He maintained that the breakdown of the alliance left JD(S) with no option but to seek a “more stable” political partnership later.

Political context

Deve Gowda briefly served as Prime Minister following the 1996 Lok Sabha elections, heading a United Front government supported by the Congress. His party later allied with the Congress in Karnataka in 2018 before parting ways after the coalition government’s collapse.

Indian stock markets opened sharply lower on Thursday, snapping a three-session gaining streak, as rising global crude oil prices and geopolitical tensions weighed heavily on investor sentiment.

Benchmark indices witnessed a gap-down opening, with the Sensex plunging over 1,900 points at the open, while the Nifty dropped more than 450 points. The decline follows reports of Iran targeting key energy infrastructure in the Gulf region, pushing Brent crude oil prices above the $110 per barrel mark.

At around 9:17 AM, the Sensex was trading at 75,235.05, down by 1,469.08 points. Meanwhile, the Nifty stood at 23,291.85, slipping 485.95 points.

Oil spike, global cues pressure equities

The surge in crude oil prices is a major concern for Indian markets, as higher oil costs can widen the current account deficit and fuel inflation. This often leads to cautious investor behaviour and triggers selling in equities.

Adding to the negative sentiment, the US Federal Reserve maintained its interest rates at current levels. Stable rates in the US tend to keep bond yields attractive, which can result in foreign institutional investors (FIIs) pulling money out of emerging markets like India.

Early indicators had already pointed to a weak start. GIFT Nifty futures were trading at 23,324, down 453 points, signalling a negative opening for domestic indices.

Expert view signals sectoral shift

According to InvestorAi’s strategic outlook, there has been a noticeable shift in market positioning towards IT large-cap stocks. The move reflects a preference for companies with stable earnings visibility, especially those earning in dollars amid a weakening rupee.

The analysis highlights that IT exporters benefit from currency depreciation, as revenues are largely dollar-denominated while costs remain in rupees. However, the outlook remains sensitive to crude prices. A sustained rise above $110 could force policy tightening and impact valuations.

Key stocks in focus

Among the top conviction picks highlighted:

• Mphasis seen as a strong mid-cap IT play with AI and cloud exposure
• Wipro emerging as a turnaround candidate with improving margins
• TCS acting as a sector bellwether reflecting broader IT trends
• PB Fintech offering a high-margin digital growth story
• KEI Industries representing domestic infrastructure and electrification demand

What investors should watch

Market participants are closely tracking the rupee’s movement against the US dollar. A sustained breach beyond 90.5–91 levels could further support IT stocks but may also signal broader macroeconomic stress.

Additionally, crude oil prices and geopolitical developments will remain key triggers for market direction in the near term.