te Assembly election results 2018, Markets HIGHLIGHTS: Poll trends fail to impact market; Sensex, Nifty close on a high | Zee Business

Assembly election results 2018, Markets HIGHLIGHTS: Poll trends fail to impact market; Sensex, Nifty close on a high

Congress leading on 91 seats, BJP leading on 71 seats, others on 22 seats in Rajasthan; Sensex at 304 points; Nifty at 10,395.

Assembly election results 2018, Markets HIGHLIGHTS: Poll trends fail to impact market; Sensex, Nifty close on a high
Bombay Stock Exchange building is pictured next to police van in Mumbai. Image: Reuters

Share Market LIVE, Election Results 2018 updates

3.55pm: BJP has faced big setbacks in Chhatisgarh and Rajasthan. As of now, the party is trailing Congress by big margins. In Chhattisgarh, Congress is leading on 62 of 84 seats and 102 of 199 seats in Rajasthan, as per official Election Commission data. 

In Telangana, K Chandrasekhar Rao's TRS is leading on 79 of 119 seats, while in Mizoram, the Mizo National Front (MNF) is set to end Congress rule by leading on 26 of 40 seats. 

In Madhya Pradesh, Congress is currently leading on 115 seats, while the BJP is leading on 105 seats. 

TRENDING NOW

Here is the Zee Business tweet:

3.43 pm: Markets closed! The election result trends have failed to effect the stock markets today. After falling over 500 points at the start of the day, the Sensex bounced back, closing at 35,150, which is 190.29 more than yesterday. Nifty also closed 60.7 points higher at 10,549. 

3.37 pm: Congress takes big lead again. 

3.27 pm: Sensex is now above 35,184, Nifty at 10,554

3.20 pm: Stock market has defied predictions of a bloodbath. After the resignation of RBI governor Urjit Patel on Monday, it was expected that uncertainties at the top of central bank may spill to the markets also. Currently, the Bombay Stock Exchange (BSE) has is 205.5 points up from yesterday's closing number. Early in the day, BSE had witnessed over 500 point slump. 

The Nifty is now trading at 10,557.  

02.23 pm: BJP has won its first seat in Madhya Pradesh. It continues to lead in the state. Congress ahead in Rajasthan, Chattisgarh. Telangana goes to TRS. 

13.30: Both sensex and the Nifty are in the green at present, after initial fall. BSE is at 35,055.48, while Nifty is at 10,523. Both Congress and BJP are still in neck and neck competition in Madhya Pradesh. In Rajasthan, Congress is leading by a big margin.

Watch | Assembly Election Results 2018 Live Updates

12.51 pm: Each minute the markets are getting tensed as the counting in assembly elections show 'ache din' not coming for BJP. What has happened is that both Sensex and Nifty are on hotbed by losing more than 500 points and 150 points respectively, as exit polls indicated that Prime Minister Narendra Modi government will not see a big win in these assembly elections whose votes are being counted at present. READ MORE

12.39 pm: Congress continues to maintain lead in Madhya Pradesh, Chhatishgarh and Rajasthan. 

*Source- ECI

12.27 pm: TRS MP K Kavitha reacts: "The losing party always says the EVMs have been tampered with, this is absolutely false. Even the CEC in a press meeting yesterday said that it is not possible to tamper EVMs. People have given victory to TRS, what Congress is claiming is false."

12.17 pm: Home Minister Rajnath Singh reacts: "Nothing is yet clear from the trends. Congratulations to the MLA candidates and the political parties that are winning. But Mahagathbandhan has failed terribly in Telangana"

12.10 pm: Sensex and Nifty are again in the Red. Election counting trends show the Congress leading again in Madhya Pradesh. In other four states, the winners are almost certain. 

12.03 pm: Madhya Pradesh - latest official data

11.56 am: Official ECI trends: Congress leading on 99 seats, BJP leading on 79 seats, BSP on 2, CPM on 2 and others on 16 seats in Rajasthan. Saroj Pandey, BJP national general secretary & MP from Durg (Chhattisgarh), tells ANI, "We can't say anything after only 1st round of counting. We hope to form the government in Chhattisgarh. It's a very close fight."

11.42 am:  BJP makes surprise comeback in Madhya Pradesh. Now, leads in 116 seats; Chhattisgarh is set to go to Congress. 

11.34 am: Sensex, right now

11.29 am: Even as election counting is own and the sensex is fluctuating, PM Modi seems to be in a rush to announce Urjit Patel replacement today. Centre is set to take a decision on the next governor's name today itself. Finance Secretary AN Jha told ANI that the Centre will take a decision today in the matter. READ MORE

11.20 am: BJP makes a comeback, now leads Congress in MP. BJP now leads in 114 seats; Congress 108.

11.06 am: Mizoram result - Congress set to lose. 

10.55 am: TRS is all set to win Telangana.

10.52 am: Official ECI trends: Congress leading on 91 seats, BJP leading on 71 seats, others on 22 seats in Rajasthan; Sensex at 304 points; Nifty at 10,395.

10.39 am: 3-0! Congress is leading in three BJP-rules states of Madhya Pradesh, Chhatisgarh and Rajasthan. If the trend continues, this will be a big setback for the BJP ahead of Lok Sabha elections 2019. 

10.28 am: Assembly Election Results 2018: Petrol, diesel prices cut for sixth straight day. Petrol, diesel prices have again come down on the sixth straight day in the wake of the softening of international crude oil prices. Petrol in Delhi today costs Rs 70.31 a litre and diesel is priced at Rs 64.82 per litre, according to state-owned oil firms' price notification. READ MORE

10.27 am: Chhattisgarh election result - Setback for BJP; Congress set to win. 

10.15 am: As expected, Sensex, Nifty have opened on a negative note, with the BSE Sensex benchmark giving away over 500 points and hovering below 34,500-level. At around 0917 hours, Sensex was trading at 34,664.70 down by 295.02 points or 0.84%, whereas the Nifty 50 was below 141.55 points or 1.35% trading at 10,346.90. However, at around 0938 hours, the Sensex was trading at 34,453.14 down by 506.58 points or 1.45%, whereas the Nifty 50 was below 146.75 points or 1.40% trading at 10,341.70.  READ MORE

110.13 am: BJP leads in Madhya Pradesh. Sensex down by 337 points!

 

10.03 am: In Telangana, TRS continues to lead.

9.58 am: BJP looks set to lose in Rajasthan; Congress continues to maintain lead in the state.  The Congress is leading in 61 seats, while the BJP is ahead in 45 seats in the 200-member Rajasthan Assembly, according to the state election commission's website Tuesday.

9.43 am: Election Results: BJP recovery in MP brings Sensex back; still down by 344 point at 34,575

9.43 am: Election Results: BJP recovers in Madhya Prades; Sensex follows

9.39 am: Madhya Pradesh election result - BJP seen taking lead for the first time. BJP - 105; Congress 103

9.36 am: Sensex at 34,458.86, down by over 500 points

9.35 am: Mizoram result

9.32 am: Sensex down by 500 points.

9.29 am:  Sensex follows BJP, crashes by over 470 points at 34,487. 

9.25 am: Election Results: Sensex loses cool, crashes by over 400 points; BJP behind in Rajasthan, MP

9.08 am: Experts say that the market will not read too much into the election results. 

9.07 am: Sensex opens at 34,603.72

8.50 am: Anil Singhvi’s Market Strategy December 11: 

Impact of RBI Governor resignation:
Nifty and Bank Nifty can go down by 150-200 points and 500-700 points respectively. 
Rupee to weaken by approximately 2 per cent. 

 Impact of election results:
• MP Results will be the most important and key trigger
• If BJP wins all 3 states: Nifty to go back to 10700-10800 levels
• If BJP wins MP and Chhattisgarh: It is positive and Nifty to touch 10500-10600 again
• If Congress wins all 3 states: Nifty to fall by 250-300 points more, 10000-10050 level possible
• If Congress wins Rajasthan and Chhattisgarh: Its neutral mandate and Nifty to remain uncertain
• If Congress wins Rajasthan and MP: Its negative and Nifty to touch 10200-10250 range 

8.50 am: Counting is underway in five states. Early trends show neck and neck competition in Madhya Pradesh, Chhattisgarh, Rajasthan and Telangana. 

8.34 am: Watch all market, election result updates here. 

8.25 am: Nothing seem to boost Indian market today, considering a host of action that took place in previous days. While everyone is sitting with bated breath to who will be elected in the assembly election held in five states, as the outcome will be annouonced today. Just a day ahead of the election a blow was sent out for both investors and market, as RBI governor Urjit Patel has submitted his resignation from his post. Hence, nothing seems optimistic in trading in Dalal Street today. READ MORE

8.20 am: Counting has started in five states that went to Assembly elections. 

 

Written By: ZeeBiz WebTeam
Updated: Tue, Dec 11, 2018
10:10 pm
New Delhi, ZeeBiz WebDesk
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