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Party fortunes sway and so does Sensex

DNMUM414239 | 5/16/2018 | Author : Prasanna Deshpande | WC :183 | Business & Economy



Mumbai: Markets witnessed wild fluctuations on Tuesday as Karnataka polls results unfolded. The Sensex, which rose up to 437 points when early counting indicated that BJP was comfortably placed to form the government in Karnataka, gave up the gains as a hung mandate became clear.
The Sensex closed at 35,543.94, down 12.77 points from the previous close. Intra-day, the Sensex surged 437 points to touch a high of 35,993.53. In all, the Sensex gyrated nearly 500 points. The broader 50-stock Nifty closed 4.75 points lower at 10,801.85.
Weaker global cues and sluggish rupee, too, hit sentiment. “Domestic stocks began the trading day on a buoyant note as initial trends showed the BJP taking a huge lead. A BJP victory in Karnataka will
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