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Nifty IT slips nearly 5% in a bearish market; Tech M, Infosys fall up to 6%

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In the past eight days, the Nifty IT index has slipped 10 per cent, as compared to 4 per cent decline in the Nifty 50 index

Nifty IT index slips nearly 5%; Tech Mahindra, Infosys, TCS fall up to 6%

Shares of information technology (IT) companies fell up to 6 per cent on the National Stock Exchange (NSE) in Monday's intra-day trade after the US Federal Reserve Chairman Jerome Powell said that higher inflation is likely to inflict pain across households and businesses.

At 09:23 am, the Nifty IT index was the top loser among sectoral indices, and was down 4.5 per cent, as compared to 2 per cent decline in Nifty 50. Meanwhile, in the past eight days, the index has slipped 10 per cent, as compared to 4 per cent decline in the Nifty 50 index.

Shares of Tech Mahindra, Infosys, Tata Consultancy Services (TCS), Mindtree, Larsen & Toubro Infotech, Coforge, HCL Technologies, Wipro and L&T Technology Services fell up to 6 per cent intoday's intra-day trade.

The April-June quarter (Q1FY23) saw execution pick up for IT companies as it is a first full quarter of execution (barring company specific seasonality) after full/partial impact of furlough in Q3 and Q4. Operating margins, however, were impacted due to wage hikes rolled out in the quarter for few companies, while for others, supply side challenges, increase in sub-contractor expenses, travel & visa related expenses acted as major headwinds.

Despite minor pain in select verticals of IT companies, analysts at ICICI Securities remain optimistic of no downward revision in revenue growth guidance for FY23.

"The demand environment continues to be strong, which reflects in healthy order book growth. However, companies did mention about weakness in a few pockets as far as tech spending is concerned due to some impact of macro headwinds. The weakness largely pertains to BFSI and retail verticals. It is also heartening to see no downward revision in revenue growth guidance in FY23 by any of the companies," the brokerage firm said.

On the contrary, a media report by the Economic Times stated that the revenue of the IT service providers may be impacted by up to 33 per cent due to a fall in the growth rate of three platforms - Amazon Web Services, Microsoft Azure and Google Cloud. In the first half of 2022, the three platforms have reported a 7 per cent fall in incremental revenues

Share Market Closing Note,Indian Stock Market Trading View For 29 Aug,2022:

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 Share Market Closing Note

Nifty ends below 17,350, Sensex tanks 861 pts; IT stocks worst hit.Share Market Closing Bell! Sensex, Nifty end on a positive note | Zee  Business

Apart from FMCG and Oil & Gas, all other sectoral indices ended in the red with Bank, Information Technology, Metal, PSU Bank and Realty down 1-3 percent.

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Topic :- Time:3.00 PM

Nifty spot if manages to close above 17340 level only then expect bounce back in the market else we might witness some further down move in coming sessions. Avoid open long positions for tomorrow.

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Topic :- Time:2.40 PM

Just In:

L&T Tech wins 5-year multi-million dollar deal from BMW for infotainment

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Topic :- Time:2.30 PM

NATURALGAS Trading View:

NG is trading at 760.If it holds below 762 level then expect some decline in it and once it manages to trade and sustain above 762 level then some pull back can follow in it.

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Topic :- Time:1.30 PM

GOLD Trading View:

GOLD is trading at 50900.If it breaks and trade below 50860 level then expect some further decline in the market and if it manages to trade and sustain above 50940 level then some upmove can follow in GOLD.

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Topic :- Time:1.20 PM

Just In:

Govt working to avoid panic over rice with targeted curbs on export

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Topic :- Time:1.00 PM

Nifty is likely to turn volatile and trend will remain sell from rise for now. Nifty spot if breaks and trade below 17300 level then expect some decline in it and if it manages to trade and sustain above 17340 level then some upmove can follow in the market.

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Topic :- Time:12.45 PM

Just In:

Court dismisses Ex NSE CEOs bail plea.

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 666.60. If it holds above 663.00 level then expect some quick rise in it. Buy on every decline till it holds above 663.00 is recommended in it.

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Topic :- Time:12.20 PM

Just In:

Mukesh Ambani-led Reliance Industries Ltd (RIL) will hold its 45th Annual General Meeting (AGM) virtually today at 2 PM through video conferencing

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Topic :- Time:12.10 PM

Just In:

Reliance Retail makes Rs 5,600-crore initial bid for Metro Cash & Carry India.

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Topic :- Time:12.00 PM

Nifty spot is trading at 17330.If it breaks and trade below 17300 level then expect some decline in the market and if it manages to trade and sustain above 17360 level then some upmove can follow in it.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex trims early loss, down 900pts; Nifty50 below 17,300

2. Rupee hits new low of 80.14 per $ as Feds Powell talks tough on inflation

3. RIL AGM 2022: Ambani to unveil 5G phone, spell out new, bigger energy plans

4. Are we allowed to transfer shares to Adani Group firm: NDTVs Roys ask Sebi

5. Suzuki Motor to invest Rs 18K cr for setting up EV battery unit, car plant

6. Bank of Baroda planning to raise Rs 5 billion through perpetual bonds

7. Govt may try new currency swap to help developing economies avert default

8. National Highways Infra Trust to raise Rs 2,350 cr via bonds, bank loans

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For 29 Aug,2022:

Gap down opening expected. Investors should wait for 1-2 days before going long in the market. Nifty is likely to remain volatile and is expected to follow global cues.

Nifty  spot if manages to trade and sustain above 17620 level then expect some upmove in the market and if it breaks and trade below 17500 level then some decline can follow in the Nifty. Please note this is just opening view and should not be considered as the view for the whole day.

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RIL 45th AGM Live: Ambani promises Jio 5G services in metros by Diwali

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From Reliance Industries 45th Annual General Meeting to Covid updates, catch all the latest news here

Mukesh Ambani, Chairman & MD, RIL

India on Monday recorded 7,591 cases of Covid, the lowest in 76 days, taking the nation's tally of  to 44,415,723. The death toll from the Covid-19 pandemic reached 527,799 after 45 new fatalities were reported, including 15 reconciled by Kerala. India's tally of cured Covid cases reached 43,802,993 after 9,206 people recovered from the disease in the last 24 hours.

Billionaire Mukesh Ambani's  (RIL) will hold its 45th Annual General Meeting (AGM) via video conferencing today at 2 pm on Monday, August 29. The AGM will see some key announcements, including the group's 5G rollout timeline and the launch of its JioPhone 5G. The future roadmap of some key businesses, such as retail, telecom and new energy, is also expected at the AGM. At last year's AGM, Ambani had launched the JioPhone Next, its first smartphone. The company had also laid out is new-energy blueprint with a Rs 75,000-crore investment over three years.

At least four people were killed and two people were injured on Sunday morning (local time) after a man set fire to a building and then shot at people fleeing in Houston, according to city Police chief Troy Finner. Among the four killed was the suspect, said the police chief, CNN reported. The suspect was later killed by a Houston police officer. 

The  party on Sunday announced that the election for its president would be held on October 17, asserting that it is the only party in the country which follows such a democratic exercise. The result will be declared on October 19. If only one candidate is left in the fray after the withdrawal of nominations, the winner will be declared on October 8 itself, the party's Central Election Authority chairman Madhusudan Mistry said after a meeting of the  Working Committee (CWC).

Diminishes himself further: Congress on Ghulam Nabi Azad's criticism

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Launching a fresh attack on the Congress three days after he quit the party, Azad said the party needs medicines for treating it which are being provided by compounders instead of doctors. He also accused the Congress leadership of not having time for setting the organisation right.

Diminishes himself further: Congress on Ghulam Nabi Azad's criticism

The Congress on Monday slammed Ghulam Nabi Azad for his latest attack on its top leadership, saying he has been tasked to "slander" the party and by doing so he diminishes himself further.

Launching a fresh attack on the Congress three days after he quit the party, Azad said the party needs medicines for treating it which are being provided by compounders instead of doctors. He also accused the Congress leadership of not having time for setting the organisation right.

Speaking to reporters at his residence here, Azad who quit the party on Friday last, alleged that the leaders being projected in the party in states are making party members leave instead of uniting them.

Hitting back at Azad, Congress general secretary in-charge communications Jairam Ramesh said, "After such a long career, courtesy entirely the party he's been tasked to slander, by giving interviews indiscriminately, Mr. Azad diminishes himself further."

"What's he afraid of that he's justifying his treachery every minute? He can be easily exposed but why stoop to his level?" he said on Twitter. Azad on Friday had ended his five-decade association with the party, terming it "comprehensively destroyed" and lashing out at Rahul Gandhi for "demolishing" its entire consultative mechanism.

he Congress, dealing with the fallout of a series of high profile exits, including that of Kapil Sibal and Ashwani Kumar, had attempted to deflect the latest blow by alleging that Azad's DNA had been "Modi-fied" and linking his resignation to the end of his Rajya Sabha tenure.

Rupee hits new low of 80.14 per $ as Fed's Powell talks tough on inflation

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RBI interventions to determine rupee's course amid surging dollar

Rupee, rupee vs dollar

The  weakened to a new low against the  on Monday as the greenback surged globally following  Chair Jerome Powell’s firm commitment to tackling high inflation even at the cost of .

The  weakened to a low of 80.14 per  in the first few minutes of trade on Monday as the  index strengthened well past the 109 mark.

The previous lifetime low for the  was 80.06 per dollar on July 19. The domestic currency, which had settled at 79.87 per dollar on Friday, regained some ground due to the Reserve Bank of India’s market interventions through dollar sales, dealers said. The local unit was at 80.02 per dollar at 9:30 am IST.

At the Jackson Hole Economic Symposium on Friday, Powell said that “restoring price stability will likely require maintaining a restrictive policy stance for some time. The historical record cautions strongly against prematurely loosening policy.”

The US dollar index, which measures the currency against six major rival currencies, was last at 109.33 as against 108.20 at the end of Indian market hours on Friday. The index has strengthened more than 14 per cent so far in 2022.

A stronger US dollar exerts pressure on emerging market currencies such as the rupee and weakens the appetite of overseas investors for Indian assets.

“The rupee has breached the recent lifetime low in line with the fall in other Asian currencies and is expected to now test 80.60 to 80.75 levels in the next one month,” Ritesh Bhansali, vice-president at Mecklai Financial Services, said.

The rupee has weakened a little more than 7 per cent in 2022.

Dealers said that the RBI had intervened in the market around the 80.05-80.10 per dollar mark and would prevent excessive volatility in the exchange rate.

“Now, it would be all about RBI’s tolerance or intolerance of these record levels. If they think to curb the same, then we could see easing up to 79.70-80 levels or else pressure will take the pair towards 80.30 levels,” CR Forex Advisors MD Amit Pabari said.

“For confirmation of the technical breakout, one should wait for initial hours and check whether the pair is holding 80.05 or not,” he said. He sees the rupee in a band of 79.70-80.30 per dollar for the day.

Fuel Prices on August 29: Check petrol, diesel rates in Delhi, Mumbai and other cities

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Petrol in Mumbai is being sold for Rs 106.31 per litre and diesel for Rs 94.27.Fuel Prices on August 29: Check petrol, diesel rates in Delhi, Mumbai and other  cities - TopologyPro One - News Aggregator and Search Portal

Petrol and diesel prices held steady on August 29, the latest price notification issued by fuel retailers showed. The prices have stayed unchanged for more than a month.

Petrol in Mumbai is being sold for Rs 106.31 per litre and diesel for Rs 94.27. Petrol and diesel in Delhi cost Rs 96.72 and Rs 89.62 a litre respectively. Petrol and diesel are priced at Rs 102.63 and Rs 94.24 in Chennai and at Rs 106.03 and Rs 92.76 in Kolkata respectively.

Oil marketing companies are reportedly incurring a loss of Rs 13.08 a litre on petrol and Rs 24.09 on diesel. India meets 80 percent of its fuel needs through imports.

The Meghalaya government on August 25 hiked the prices of petrol and diesel.

Oil mixed as OPEC supply cut prospect offsets demand fears

Oil prices were mixed on Monday as investors balanced expectations the OPEC will cut output to support prices against concerns sparked by Federal Reserve Chairman Jerome Powell saying the United States will face slow growth "for some time".

U.S. West Texas Intermediate (WTI) crude futures rose 2 cents to $93.08 a barrel at 0003 GMT, adding to Friday's gain.

Brent crude futures were down 27 cents, or 0.3%, at $100.72 a barrel, trimming gains from the previous session.

In a speech on Friday, Powell said curbing inflation "is likely to require a sustained period of below-trend growth" and would "bring some pain to households and businesses", which rattled equity markets while boosting the dollar.

The dollar index continued to climb on Monday to 109.16, up 0.3% in early trade. A stronger dollar weighs on oil as it makes crude more costly for buyers holding other currencies.

Reliance's investor meet to focus on Mukesh Ambani's succession, spinoffs

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Anticipation is high as the 65-year-old billionaire, who built Reliance into India's largest company by market value and a powerhouse conglomerate, has used the speech for series of big announcements.Reliance's investor meet to focus on Mukesh Ambani's succession, spinoffs |  Business Standard News


Mukesh Ambani’s once-a-year speech to investors has over time evolved into an eagerly-awaited pronouncement on his $222 billion empire akin to Warren Buffett’s annual letters to Berkshire Hathaway shareholders.

This year, Reliance Industries Ltd.’s investors will be looking for insight on Monday around the company’s 5G rollout, how he plans to unlock the value of his telecom and retail units through separate listings, and when and how his children will take over the reins.

Anticipation is high as the 65-year-old billionaire, who built Reliance into India’s largest company by market value and a powerhouse conglomerate, has used the speech for a series of big announcements. These include the launch of his disruptive telecom service in 2016, Saudi Arabian Oil Co.’s proposed investment in Reliance’s energy business in 2019 and a strategic shift to green energy last year.

This year’s shareholder meeting comes as the refining-to-retail group faces the twin challenges of a global recession and the blistering rise of Gautam Adani, who eclipsed Ambani as Asia’s richest man earlier this year and is emerging as an alternative power center on the corporate landscape.

Reliance investors will have in mind how Adani’s conglomerate split its business into different listings years ago, unlocking value, and will expect “clarity and specific time lines for the next big things” from Ambani’s more-centralized holdings, Kranthi Bathini, equity strategist at WealthMills Securities Pvt Ltd. in Mumbai. Adani’s wealth has surged $58 billion this year riding the stocks rally compared to $3.3 billion rise in Ambani’s.

Here’s where investors are expecting news:

Succession

The patriarch signaled that succession planning atop Reliance will be expedited in last year’s shareholder meet and reiterated it explicitly in December. His three children -- daughter Isha and sons Akash and Anant -- are already holding various directorships in the group’s unlisted firms and are becoming more visible in their leadership.

Ambani stepped down as the chairman of Reliance Jio Infocomm Ltd. in June, making way for his elder son, Akash, who took over the helm at India’s largest wireless operator. As rumors keep swirling around Ambani’s health, investors will look for more concrete steps to be taken in leadership transition, with Isha, Anant and possibly his wife, Nita, taking on more responsibility.

5G Rollout

Reliance Jio Infocomm bought airwaves worth over $11 billion at a local spectrum auction as it sought to cement its edge over the smaller rivals -- Bharti Airtel Ltd. and Vodafone Idea Ltd. -- in the rollout of speedier 5G networks. That will be key to boosting revenues and luring high-value users.

Investors will be looking for proof of the pudding here. The technology is yet to return profits for Asian wireless operations despite investing billions of dollars, even for those in China which have been offering 5G service since 2019. Details like a nationwide rollout date, tariff plans for 5G services as well as where demand lies for the service will be crucial for Reliance Jio to reveal.

The Ambani children may demonstrate some of the key features of the 5G services at the meeting, just as they’ve showcased new telecoms products in the past.

Spinoffs, IPOs

The street has been waiting to get better clarity around the initial public offerings of Reliance Jio and Reliance Retail Ltd. especially after the two consumer businesses raked in $27 billion from marquee global investors in 2020.

Both  are market leaders in their respective sector with a formidable lead over their rivals. Their listings -- or even spinoffs -- could propel Ambani’s net worth. “The timelines are crucial to get the mojo back for Reliance stock,” Bathini said. Reliance has gained just about 11% this year compared to the more than 40% rise by top performers in S&P BSE Sensex.

New Energy, Old Energy

The $76 billion pivot toward green energy is the biggest transformation that Ambani is helming currently. It’s also a difficult transition given the conglomerate’s roots in petrochemicals and crude oil refining and the continued out-sized contribution of the fossil fuel-led businesses in Reliance’s yearly revenue.

Investors will look for updates around last year’s announced plans to build four giga-factories to make solar modules, hydrogen electrolyzers, fuel cells and storage batteries. Ambani has also been on a tear acquiring small green energy firms globally for expertise and technology. There are also plans to become among the world’s top blue hydrogen makers.

Going Global

Ambani emphasized his vision for the “internationalization of Reliance” in his speech last year.

In the past year, Reliance has made overtures toward big overseas deals like a potential acquisition of the British drugstore chain Boots, which was never completed. Investors will want to see if the appetite for global acquisitions still exists amid a slowing worldwide economy.

Then there’s always the possibility of a curveball at the meeting, said Bathini. “Never underestimate the power of senior Ambani” to surprise the market, he said.

Zomato pilots grocery delivery through Blinkit in Delhi-NCR

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While the minimum order value for free grocery delivery on the Blinkit app for the Delhi-NCR customers was being shown as Rs 150, the amount was Rs 49 only on the Zomato appZomato to acquire grocery delivery platform Blinkit for ₹4,447 Cr | 5  points - Hindustan Times

Zomato has started piloting grocery delivery on its app through an integration with the quick commerce company Blinkit, which the Gurugram-based food aggregator acquired recently

The option to order groceries on the Zomato app appeared for customers in the Delhi-NCR region but not for those in Bengaluru or Mumbai on August 27. While the minimum order value on the Blinkit app was Rs 150, the amount was Rs 49 only on the Zomato app.

The grocery category on the Zomato app also showed items from Colgate-Palmolive under a "sponsored" tag, indicating ad monetisation on the platform like other e-commerce companies.

Zomato founder Deepinder Goyal had earlier said that ad sales revenue in quick commerce would be higher than food delivery, given the much larger digital ad spend budgets of the consumer packaged goods (CPG) brands.

Moneycontrol has sent queries to Zomato and Blinkit about the integration and the roadmap for the pilot and the article will be updated when their  responses come in.

Zomato on June 24 said its board had approved the acquisition of Blinkit for Rs 4,447 crore. According to the terms of the agreement, Blinkit shareholders would get a cumulative stake of 6.88 percent in Zomato and the company’s leadership team, including co-founder and CEO Albinder Dhindsa, would stay on.

But questions still remain about how Zomato, a company that registered losses of Rs 1,223 crore in FY22, plans to derive value from acquiring another loss-making delivery startup.

Moneycontrol has reported that Blinkit launched a printout service in Gurugram, charging Rs 9 a page for black and white printing and Rs 19 for coloured printouts.

“Quick commerce will help us increase the customer wallet share spent on our platform and also drive higher frequency and engagement from our customers,” Goyal had said while explaining the rationale behind the deal.

The company believes that quick commerce naturally extends across multiple categories including beauty & personal care, electronics, OTC pharma, stationery, other gift items, etc. Also, categories other than grocery help the quick commerce business make higher margins, and attain higher average order value.

“Total commerce market in India is $1.3 trillion and in the long term, we see quick commerce emerging as a significant channel of demand for customers at least in the top cities,” Goyal had said.

In early August, Zomato said Blinkit delivered an estimated 8.3 million orders in July. This was a 63 percent increase from the 5.1 million orders it delivered in January, which was the first month of its operation after the pivot. During this period, its revenue rose around 239 percent to Rs 75 crore in July.

Blinkit’s annual turnover in FY22 was Rs 263 crore, Rs 200 crore in FY21 and Rs 165 crore in FY20.

Centre submits NDC climate target to UNFCC, eyes net-zero by 2070

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No Sectoral Targets, 500 GW renewable energy target also dropped

climate change

The Centre on Friday submitted its updated ‘nationally determined contributions’ (NDCs) to the  Framework Convention on  (UNFCC). This is in line with the commitment made by Prime Minister Narendra Modi at the Conference of Parties (COP26) last year.

The NDCs cover a period up to 2030 and are a step towards the country’s long-term goal of reaching net zero by 2070, said the submission by the ministry of environment, forest and  (MoEFCC).

The country has submitted eight key NDCs, of which two are updates on our existing targets.  had last submitted its NDC in 2016. The Union Cabinet — earlier during the month — approved the country’s official NDC submission.

The ministry — in its cover letter to the UNFCC — however, said, India’s NDCs “do not bind it to any sector-specific mitigation obligation and target.”

It said, India’s goal is to reduce overall emission intensity and improve energy efficiency of its economy over time. This would protect the vulnerable sectors of the economy and segments of the society.

 has updated its target to reduce emission intensity of its GDP by 45 per cent by 2030, from 2005. It was earlier 30 per cent. It has also updated the target of capacity addition from non-fossil fuel sources.

 said it will achieve about 50 per cent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030.

It said this target will be “with the help of transfer of technology and low-cost international finance, including from Green Climate Fund (GCF).”

During COP26, the PM had said India will build 500 Gw of  capacity, but that has not been a part of the official submission. It has also updated its NDC of propagating climate consciousness by including the submission made by the PM during his address at COP26.

“India will propagate a healthy and sustainable way of living based on traditions and values of conservation and moderation, including through a mass movement for ‘LIFE’— ‘Lifestyle for Environment’ — as a key to combating climate change,” said the NDC submission.

The country has added a new target of creating an additional carbon sink of 2.5 to 3 billion tonnes of carbon dioxide equivalent through additional forest and tree cover by 2030.

India also said it will need new and additional funds from developed countries to implement its mitigation and adaptation actions “in view of the resource required and the resource gap.” It also said adaptation policies would be built to support sectors vulnerable to .

Sanna Marin: From youngest elected leader to 'partying PM'

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Finland Prime Minister Sanna Marin has become entangled in controversies over her partying, earning her the nickname "Party Sanna" in Finland's tabloid press.Finland's Sanna Marin Becomes World's Youngest Prime Minister At 34

Since Sanna Marin became Finland's youngest prime minister in December 2019, the "child from a poor family" has risen to become the Nordic country's most popular leader of government in the 21st century.

But the 36-year-old's reputation as a firm crisis leader -- deftly navigating her small nation through the Covid pandemic and a historic NATO membership application -- has been challenged in the last few days.

Marin has become entangled in controversies over her partying, earning her the nickname "Party Sanna" in Finland's tabloid press.

A poll published by leading newspaper Helsingin Sanomat on Friday showed that 42 percent of Finns had a worse opinion of their prime minister due to the scandals.

A video leaked last week -- which made headlines around the world -- showed Marin dancing and partying with a group of friends and celebrities

That controversy was quickly followed by another, when Marin was forced to apologise for a photo taken at her official residence of two women lifting their tops to bare their torsos, as she hosted friends after attending a music festival.

In December 2021, Marin came under sustained criticism after it was revealed she stayed out dancing until the early hours despite having been exposed to Covid-19.

Humble origins

"Some of the general public consider that partying like that and appearing in such company does not fit the norm for a politician," professor Anu Koivunen told AFP.

Koivunen noted that while the leaks would likely have caused a stir with any prime minister, she believes that the fact that Marin is a young female politician played a role in the ensuing brouhaha.

"There's been a debate about her qualifications, whether she's up to the job," Koivunen said, suggesting that this probably would not have been the case with a male prime minister.

But for her, this "ignores Marin's history as a crisis leader and a competent actor."

"I am human. And I too sometimes long for joy, light and fun amidst these dark clouds", Marin said this week in an emotional speech where she appeared close to tears.

Battling controversies about her lifestyle or stereotypes is nothing new for Marin.

She was relatively unknown before she became prime minister, her rise to power a swift one.

The slender, dark-haired Marin grew up in the southern Finnish town of Pirkkala, in a "rainbow, low-income family, and lived in the municipality's rental housing", in her own words.

"My parents divorced because of my father's drinking problem when I was only a few years old," she wrote in her blog.

Although Marin's childhood with her mother and mother's female partner did not include "material abundance", it was full of "love and ordinary life," she described.

'Shop girl'

Marin was the first in her family to go to university, earning a Masters degree in Administrative Sciences.

She supported her studies by working as a cashier, something which her opponents have later used to discredit her.

When Marin became prime minister, Finnish daily newspaper Iltalehti called it "a remarkable rise from shop cashier to the top of Finland."

Even Estonia's then interior minister Mart Helme caused a row by labelling Finland's new prime minister a "shop girl".

The negative comments prompted many prominent Finns to reveal n social media their own "rise to the top" from humble beginnings as cashiers or cleaners.

The comments and frequent controversies about her lifestyle and looks are in stark contrast with how the young politician got noticed and how she is now perceived, analysts say.

"As a politician, she is well respected. She is both firm and also open to discussion," Emilia Palonen, a political scientist at Helsinki University, told AFP.

Her Social Democratic party, the SDP, "needed strong, responsible and charismatic people like her", she said.

Marin was first elected as an MP in 2015. But for many Finns, the first time she entered the spotlight was in 2016 when a Tampere city council debate she chaired went viral on social media.

On the video which has racked up nearly a million views, Marin keeps a marathon debate on Tampere's new tram lines on track, despite it dragging on for more than five hours as representatives came up with ever more hilarious and absurd arguments for and against the tram.

Many praised her professionalism in the face of bickering councilmen, earning her a reputation as "a fearless leader".

"Sanna Marin showed how to keep the hecklers in check", Helsingin Sanomat daily wrote.

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