Market trades mixed ahead of Karnataka elections, Nifty manages to hold 10,800

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The market is trading mixed and shows volatility with the BSE Sensex and the NSE Nifty gaining ahead of the Karnataka election results and the Nifty Midcap and the Nifty Bank losing in trade.

The BSE Sensex is trading at 35,554 points and the NSE Nifty is trading at 10,811 points. The Nifty Bank, which was gaining earlier, has fallen from its highs and the Nifty Midcap has been underperforming this session.

Pharma and oil marketing companies are gaining in trade today. The OMCs are gaining after fuel prices rose today. The fuel prices rose for the first time after April 24.

The Indian market on Monday opened mixed as the Karnataka exit polls suggested hung assembly for the state.

The BSE Sensex opened flat at 35,529 points and the NSE Nifty opened at 10,816 points.

Indicating a tight race between the BJP and the Congress, most exit polls for the Karnataka Assembly elections forecast a hung assembly with the JD(S) likely to play the kingmaker, but were divided on which of the two national parties will emerge as the largest in the House.

Hindustan Unilever, Dr Lal PathLabs, Bombay Dyeing, Blue Star, among others will declare their quarterly earnings today.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow