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.
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.
Here is the Zee Business tweet:
Watch | Assembly Election Results 2018 Live Updates12.51 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.
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.
READ MORE10.27 am: Chhattisgarh election result - Setback for BJP; Congress set to win.
READ MORE110.13 am: BJP leads in Madhya Pradesh. Sensex down by 337 points!
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.
READ MORE8.20 am: Counting has started in five states that went to Assembly elections.
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