Stock Market: Sensex-242, Nifty-77
The impact of the Karnataka election results on the stock markets was announced today. The Sensex, which went up to 436 points in one of the signals that the BJP is going to have its own power, the benefit of the party’s absence from the majority of the seats. The Congress and JD (S) came in complete loss after the news. Today’s index also started with losses. The BSE Sensex was trading 166 points lower at 35,377.69 while the Nifty also opened at 54,20 points at 10747.70 points. At 9.40 am, the Sensex was trading at 35301.94, down 242 points. The Nifty continues to remain at 10724.10 points with a loss of 77.75 points.
Lupine, Tata Motors, Hindalco, Tech Mahindra and Wipro are among the losers in the market. Hero MotoCorp, Cipla, GAIL, ICICI Bank and SBI are among the worst performers. Today’s shares have lost nearly twelve per cent since the PNB Bank recorded a huge quarterly loss today. The value of shares fell to 52-month low. PNB, which was trapped in the Nirav Modi scam, has reported a loss of Rs 13,416.91 crore.