Nifty drops 60.75 points as geopolitical tensions grip investors

Sensex ends flat ahead of Karnataka poll results

Sensex ends flat ahead of Karnataka poll results

Whether or not the BJP forms a government in Karnataka, the swift alliance between Congress and JD (S) to keep the BJP out of power is a stark reminder of what could transpire going into 2019 general elections as a number of disparate regional powers with different priorities may come together to form a non-BJP coalition.

Most of the Asian markets fell as geopolitical developments and rising benchmark of the United States yields spurred a return of risk aversion.

Overall forex market has been hampered on the heels of the boiling global crude prices - its highest advances since 2014 is squeezing the carry-trade returns on the rupee to a point where they are the worst in Asia.

Brokers said investor sentiment was subdued following uncertainty over government formation in Karnataka, which has thrown up a hung verdict.

Indonesia police shoot dead three men after attack on Riau HQ
The church bombing family were in the same religious study group as the two other families linked to the attacks, police said. Indonesian police shot dead four men on Wednesday after they used samurai swords to attack officers at police headquarters.

At 9.24 a.m., the wider Nifty50 of the National Stock Exchange (NSE) traded at 10,649.20 points, down 33.50 points or 0.31 per cent from the previous close of 10,682.70 points. Amongst the global indices, the Asian and European markets traded on a mixed note.

The 30-share Sensex resumed higher at 35,483.62 and advanced to a high of 35,510.01. "However, interventions from RBI may curb steep fall in rupee and are likely to give support to the market", said Vinod Nair, Head of Research, Geojit Financial Services.

On the other hand, consumer durables rose 1.37%, realty 0.41%, infrastructure 0.28%, capital goods 0.24% and oil and gas 0.08%.

Late morning, the 30-share index was trading at 35,292.30, showing a loss of 95.58 points, or 0.27 per cent.

Planned Iran sanctions, tight supply send oil to new multi-year high
Consequently, the price of Brent and WTI rose from $76.80 to $77.99 and $70.50 to $70.91 respectively in the global market. Futures for September delivery rose 1.6% to 472.8 yuan a barrel on the Shanghai International Energy Exchange.

The major gainers on the Sensex were Hindustan Unilever, up 3.84 per cent at Rs 1,574.20; ITC, up 1.47 per cent at Rs 285.95; Wipro, up 1.44 per cent at Rs 274.30; Tata Motors (DVR), up 1.33 per cent at Rs 183.50; and Yes Bank, up 1.11 per cent at Rs 349.50 per share.

Foreign portfolio investors (FPIs) net sold shares worth ₹699.22 crore, while domestic institutional investors (DIIs) bought equities to the tune of ₹ 229.06 crore on May 16, as per provisional data.

Japan's Nikkei was up 0.2 per cent.

The S&P BSE mid-cap fell by 0.27 per cent, whereas the S&P BSE small-cap ended a tad higher, by 0.06 points from its previous close.

Seattle Mariners vs. Detroit Tigers, 5/13/2018 Prediction & Odds
Seattle's James Paxton (2-1) takes the mound Sunday for the first time since throwing a no-hitter Tuesday at Toronto. The Mariners are 4-1 in their last five during game three of a series and 4-0 in Paxton's last four road starts.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.