Published: Thu, May 17, 2018
Culture&Arts | By Laurence Reese

Karnataka Election Result 2018: Sensex rises over 200 points as BJP leads

Karnataka Election Result 2018: Sensex rises over 200 points as BJP leads

The Sensex has touched a high of 35,993.53 points and a low of 35,497.92 points in the trade so far.

The 30-share BSE index hit a high of 35993.53 and a low of 35497.92 in intra-day trade.The 50-share Nifty closed 4.75 points down at 10,801.85. The broader NSE Nifty too, was down testing the 10,700-levels. Mindtree Limited now has a total float of 163.97M shares and on average sees 2.52M shares exchange hands each day.

In other Asian markets, Hong Kong's Hang Seng was down by 0.49 percent while Japan's Nikkei shed 0.38 percent.

Global markets were down after North Korea cancelled high-level talks with Seoul and threatened to call off the much anticipated summit with the United States if it was pushed into unilaterally giving up its nuclear arsenal. The US Dow Jones Industrial Average ended 0.78 percent lower on Tuesday.

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On the Sensex, Hero MotoCorp (3.64%), ICICI Bank (2.60%), and SBI (2.51%) were the top losers.

Shares of Reliance Communication tanked 16% today following news that the National Company Law Tribunal (NCLT) has accepted a petition from the Indian unit of network-equipment maker Ericsson AB. Power Grid, TCS and IndusInd Bank were trading lower at that moment.

Index heavyweight and IT major Infosys was down 0.01% to Rs 1,192.45. It operates through four divisions: Retail, CPG, and Manufacturing; Banking, Financial Services, and Insurance; Technology, Media, and Services; and Travel and Hospitality.

Meanwhile, the rupee recovered from the opening level of 68.14 and was trading at 67.86 against the USA dollar on a likely intervention from the RBI in early trade.

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Meanwhile, the bond market also witnessed carnage with the yield on the benchmark 10-year government bond maturing in 2028 surging to 7.90 per cent from 7.83 per cent last week.

Mumbai: Benchmark indices Sensex and Nifty surrendered all their gains to end in the red on Tuesday as investors resorted to fag-end selling after the BJP fell short of a clear majority in Karnataka elections.

Foreign portfolio investors (FPIs), who have been net sellers in the past few sessions, sold shares worth a net Rs 518.47 crore, while domestic institutional investors (DIIs) bought shares worth Rs 531.33 crore yesterday, according to provisional data.

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