Uncertainty over Karnataka govt formation depress markets
Mumbai: Uncertainty over government-formation in Karnataka, along with weak global cues, suppressed the key Indian equity indices on Wednesday afternoon.
No party achieved a clear majority in the election results announced on Tuesday, leading to uncertainty over the formation of the next government.
According to market analysts, heavy selling pressure was witnessed in oil and gas and banking stocks.
At 1.23 p.m., the wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading at 10,783.25 points -- down 18.60 points or 0.17 per cent from the previous close of 10,801.85 points.
The barometer Sensex of the BSE, which opened at 35,452.35 points, was trading at 35,505.61 points (1.25 p.m.) -- lower by 38.33 points or 0.11 per cent -- from the previous day's close at 35,543.94 points.
The Sensex touched a high of 35,534.57 points and a low of 35,241.63 points in the trade so far.
The BSE market breadth was bearish with 1,506 declines and 961 advances.
So far, the major gainers on the BSE were Hindustan Unilever, Wipro, Yes Bank, Tata Motors (DVR) and Tata Motors, while Hero MotoCorp, ICICI Bank, Adani Ports, Reliance Industries and Larsen and Toubro were the major losers.
On the NSE, the top gainers were Lupin, Wipro and Hindustan Unilever. The major losers were Cipla, UltraTech Cement and Hero MotoCorp.
The amendments to the insolvency law which empowers home buyers to be recognised as financial creditors was introduced in the Lok Sabha today, even as opposition parties objected to certain changes in the Act alleging that these intended to "help one industry".
Shares of Tesla Inc (TSLA.O) fell more than 4 percent in trading before the bell, after a report that the electric car maker has turned to some suppliers for a refund of previously made payments in a bid to turn a profit.
U.S. private equity firm Blackstone Group (BX.N) has secured EU antitrust approval to acquire a majority stake in Thomson Reuters’ (TRI.TO) Financial and Risk unit, the European Commission said.
"I will take tuition from you," Javadekar told TMC leader and Professor Saugata Roy as they differed over the use of the word 'predatory journals' in the Lok Sabha.
European Commission President Jean-Claude Juncker will not arrive in the United States for talks with U.S. President Donald Trump with a specific trade offer, the Commission said.
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Lavasa -an ultimate getaway, a city that would offer the charms of European locales, with five star comforts in a scenic part of Maharashtra has now become an abandoned town.
A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.
Delayed payment by GMR-led DIAL, the Delhi airport operator, to the CISF guards could eventually lead to passengers paying more to fly out of the Indian Capital.
The West Bengal Police has claimed to have busted a Rs 100 crore plus job racket in the Indian Railways following a crucial arrest in the Indian Capital.