Sensex, Nifty choppy on Cong-JD(S) alliance buzz in Karnataka
15/05/2018 14:38

Indian benchmarks slipped into negative zone during the late noon trading session on reports of Congress-JD(S) alliance in Karnataka.

Trends suggest Narendra Modi-led Bharatiya Janata party (BJP) is leading in Karnataka. A high-stakes battle for the Karnataka Assembly ended on Saturday evening, with over 35 million voting in an election crucial for the ruling Congress as well as the BJP and the JD-S.

All three main contenders for power -- Congress, the Bharatiya Janata Party (BJP) and the Janata Dal-Secular (JD-S) -- claimed they would win hands down.

At 14:30 hours, the 30-share benchmark index was trading at 35550.78 down by 5.93 points or by 0.02 per cent, while the NSE Nifty was at 10811.75 up by 5.15 points or by 0.05 per cent.

Sensex touched intraday high of 35993.53 and intraday low of 35498.83 The NSE Nifty touched intraday high of 10929.2 and intraday low of 10789.8.

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 625.75,+2.57%), Power Grid Corporation of India Ltd. (Rs. 213.65,+2.20%), Kotak Mahindra Bank Ltd. (Rs. 1289.70,+1.64%), Asian Paints Ltd. (Rs. 1316.00,+1.35%), Hindustan Unilever Ltd. (Rs. 1520.95,+1.06%), among others.

The top losers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 182.55,-4.37%), Tata Motors Ltd. (Rs. 311.30,-3.96%), Sun Pharmaceutical Industries Ltd. (Rs. 463.00,-2.33%), State Bank of India (Rs. 248.35,-1.97%), Dr. Reddy's Laboratories Ltd. (Rs. 1986.65,-1.43%), among others.

Among the sectors, IT index was at 13241.61 up by 65.09 points or by 0.49%. Lycos Internet Ltd. (Rs. 5.19,+4.85%), MphasiS Ltd. (Rs. 1032.45,+4.77%), AXISCADES Engineering Technologies Ltd. (Rs. 157.00,+3.77%), Kellton Tech Solutions Ltd. (Rs. 58.30,+2.64%), Intellect Design Arena Ltd. (Rs. 212.20,+1.39%),.

On the flip side, Realty index was at 2281.86 down by -42.01 points or by -1.81%. Indiabulls Real Estate Ltd. (Rs. 187.20,-4.61%), Oberoi Realty Ltd. (Rs. 531.35,-3.54%), Housing Development & Infrastructure Ltd. (Rs. 26.30,-2.41%), DLF Ltd. (Rs. 202.40,-2.20%), Prestige Estates Projects Ltd. (Rs. 279.45,-1.96%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2803 , shares advanced were 1073 while 1592 shares declined and 138 were unchanged.