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Markets end lower as Karnataka gets a hung assembly
Investors who had created huge position after early trends on hopes of BJP win trimmed their bets after the saffron party seat prospects shrank.
New Delhi: Markets ended marginally lower on Tuesday amid poll trends indicating that Karnataka may get a hung assembly.
In the early trade the BSE Sensex soared upto 436 points. At closing Sensex gave up all gains and ended by -12.77 points at 35,543.94 on reports that Congress would offer support to the JD(S) to form the government in Karnataka.
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. Nifty had reclaimed the key 10,900-mark to touch a high of 10,929.20.
As per latest poll trends, the BJP was leading on 104 seats, while congress was ahead on 78 and JD(S) on 38.
Investors who had created huge position after early trends on hopes of BJP win trimmed their bets after the saffron party seat prospects shrank.
Asian markets ended mixed and European markets opened lower.
With PTI Inputs