INSUBCONTINENT EXCLUSIVE:
Karnataka assembly election results will be announced today
Outcome of the Karnataka elections 2018 and performance of the Bharatiya Janata Party (BJP), for which Prime Minister Narendra Modi had
campaigned heavily, are likely to dictate movement for Sensex and Nifty in the very short term, say experts
Karnataka had voted for a new assembly on Saturday
Counting of votes began early on Tuesday, May 15
Equity markets will also take into account the latest round of macroeconomic data
Annual consumer inflation - determined by Consumer Price Index or CPI - accelerated to 4.58 per cent in April, government data showed on
The Reserve Bank of India (RBI), due to hold its next policy meeting on June 6, is still widely expected to hold rates after having kept
them unchanged for the fourth straight meeting in April.10:40 am: All sectors traded in the positive zone.Thirty nine stocks on the Nifty 50
On the other hand, top Nifty 50 laggards were Tata Motors, Indian Oil, Hindustan Petroleum and ITC, down between 0.5 per cent and 1.6 per
Hindalco Industries was up 1.4 per cent
its all-time high 36,443 - a level recorded in January this year.10:00 am: The stock markets jumped, with the BSE Sensex adding as much
Broad-based gains were witnessed led by banking and finance stocks.SBI, ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Yes Bank and
IndusInd Bank were trading with gains of 1-2 per cent each in morning deals
The rupee had ended at 67.51 against the US currency on Monday.9:50 am: Gains in equity markets were led by banking, metal and energy
shares, with the NSE's sectoral indices trading around 1 per cent higher each.9:46 am: "First, markets could view the Karnataka election
results as a litmus test of the BJP's popularity in the run-up to the next general election (scheduled for April/May 2019), but we do not
share this view, because state elections are often dominated by local issues," according to Japanese brokerage Nomura.9:43 am: The rupee as
well as bonds hit multi-month lows, as global crude oil prices inched up and the inflation print came in higher than expected
The 10-year benchmark bond yield rose 7 basis points to 7.90 per cent - its highest since August 25 2015, while the rupee fell to 67.76
against the dollar, its weakest since January 31, 2017 from its previous close of 67.50
(Read more)9:36 am: Twenty nine stocks on the 50-scrip Nifty were trading in the positive zone
Top gainers on the NSE benchmark index were PowerGrid (up 3.2 per cent), GAIL India (up 2 per cent), Tata Steel (up 1.4 per cent), ONGC and
HDFC Bank (up 1.3 per cent each).9:26 am: The stock markets reversed early losses
The Sensex rose as much as 234 points to touch, 35,791 while the Nifty rose 64 points to 10,871.9:16 am: The stock markets started Tuesday's
At 9:15 am, the BSE Sensex was down 4 points at 35,552, while the NSE Nifty was trading 11 points lower at 10,794.9:05 am: "A victory for
the BJP will be received well by the market but a narrow defeat will not dent the market's optimism regarding the BJP's chances in the
general elections next year
The market has pinned its hopes on earnings recovery and largely ignored the deterioration in the macro, which may weigh on heady
multiples," according to Kotak Institutional Equities.8:45 am: Shares in other Asian markets were mixed, following a choppy session
MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.16 per cent
US stocks had earlier ended higher after a choppy session
The Dow Jones Industrial Average rose 68.24 points, or 0.27 per cent while the Nasdaq Composite added 8.43 points, or 0.11 per cent, to
7,411.32.8:30 am: On Singapore Exchange, SGX Nifty - an early indicator of domestic stock markets - was trading 14.50 points lower at 10,794
That was a sign the markets were likely to start Tuesday's session on a cautious note.The BSE Sensex and NSE Nifty had closed nearly flat on
Monday amid cautious trade.8:25 am: Early leads of Karnataka elections indicated Congress and BJP were neck and neck."One can expect
volatilityas results hit the TV screens
A BJP majority is not priced in and neither is a Congress win," said VK Sharma, head private client group and capital market strategy at
HDFC Securities.For the latest Election Results Live Updates from Karnataka log on to TheIndianSubcontinent.com
Like us on Facebook or follow us on Twitter for updates.
