INSUBCONTINENT EXCLUSIVE:
Investors will also closely watch election results.
The stock markets are likely to open sharply
lower on Tuesday, a day marked with the much-awaited results of assembly elections in five states
The SGX Nifty was down 169.5 points, or 1.6 per cent, at 10,348.50 on Tuesday morning
The Nifty and Sensex had plunged around 2 per cent on Monday to register their worst closing levels in four weeks, dragged lower by an
Reserve Bank of India Governor Urjit Patel stepped down on Monday
Early leads show Congress leading in Rajasthan and the BJP in Madhya Pradesh
say the exit of RBI governor is likely to cause nervousness among investors in the short term."I think typically when central bank governors
or leaders anywhere in the world quit, that potentially can have significant effect on the currency and bond markets
I think it's something that we'll be watchful for," said R Sivakumar, head of fixed income, Axis Mutual Fund
"I think on Tuesday and over the next few days we can expect heightened volatility in the markets."Investors will also closely watch
election results, which will set the tone for general elections due next year."Markets were not prepared for this
Tuesday is also the political uncertainty day
So, if that saves then you'll see some saving grace
forwards - which track the performance of the currency against the dollar - registered their biggest daily slump in more than five years on
Monday.Monday's closing level of 71.32 takes losses in the rupee to 11.7 per cent against the dollar so far this year.Domestic equity
markets will also take mixed cues from Asian peers
While theNikkei 225 index rose 0.06 per cent or 13.49 points to 21,232.99 in early trade, the broader Topix index was down 0.13 per cent or
Street, spooked by concerns over the global economy
(: Government Not Informed In Advance Of Urjit Patel's Decision - Report)Wall Street fell sharply overnight as the postponement of Britain's
Brexit vote added to fears about a slowdown in the US economy and an escalation in trade tensions with China, however a resurgence in
technology shares lifted the markets.The Dow Jones Industrial Average rose 0.1 per cent, the SP 500 0.2 per cent, and the Nasdaq Composite
0.7 per cent.(With agency inputs)For the latest News Live Updates on Election Results from each assembly constituency in Madhya Pradesh,
Rajasthan, Mizoram, Chhattisgarh, Telangana, like us on Facebook or follow us on Twitter for updates.
