Sensex sheds over 300 points; Nifty below 10600

Markets trade higher as BJP leads in Karnataka

"Even the political situation could keep traders on their feet post whatever happened in Karnataka", he added.

The 30-share Sensex surged over 436 points in early trade and the NSE Nifty soared almost 128 points before making a U-turn.

During the week, the Sensex lost 687.49 points, or 1.93 per cent, while the Nifty dropped 210.10 points, or 1.94 per cent.

Extending its fall for the second straight session, the Nifty slumped 10,741.10, down 60.75 points or 0.56 per cent to end the day at 10,741.10 while the Sensex fell 156.06 points or 0.44 per cent to end the day at 35,387.88.

At 2.27 p.m., the wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading at 10,787.30 points - down 19.30 points or 0.18 per cent - from the previous close of 10,806.50 points. During the session, it moved between 10,589.10 and 10,674.95.

The data released on Monday showing a rise in consumer price inflation and weakness in global stocks on account of weak economic data from China also impacted sentiments.

"As on date Q4 results came below estimate which may cause downgrade in FY19 estimates". Consumer goods makers are already seeing strong volumes growth and global commodity tailwinds (rising crude, metal prices) should aid oil and gas and metal companies.

Democratic senators want more info about Michael Cohen from AT&T's Randall Stephenson
In recent days, Stephenson and Narasimhan have both apologized for their companies' contracts with Essential Consultants. Oliver then explained that, shortly after the 2016 election, Trump's "fixer" Michael Cohen began to make a lot of money.

Besides, the BJP forming the government in Karnataka and a higher opening in domestic equity market supported the rupee, forex dealers said.

After easing for three months, India's retail inflation shot up to 4.58 per cent in April, which may turn the Reserve Bank of India more hawkish.

In the Sensex kitty, L&T emerged the worst performer by falling 3.54 per cent, followed by ICICI Bank at 3.21 per cent.

However, HUL, Kotak Bank, IndusBank, ITC, Hero MotoCorp, TCS and Yes Bank ended with gains.

FMCG index advanced 0.88 per cent.

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

Japan's Nikkei was up 0.2 per cent. Among other IT stocks, Infosys fell 0.7 per cent and TCS 0.5 per cent.

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