Market Live: Sensex jumps 350 points, Nifty crosses 10,900 on BJP's possible win in Karnataka election

The Sensex rose over 350 points and Nifty hit 10,900 for the first time since February 2, 2018 on Tuesday amid the early trends of the results of Karnataka assembly elections showing BJP leading gains in the Congress-ruled state. The BJP looked set to  emerge as winner with more than 100 seats in contest for 222 assembly seats. The Congress looked a distant second leading at 64 seats, followed by Janata Dal (Secular) holding gains at 45 seats.

10:20 am: While the Sensex rose 348 points or 0.98% to 35,905, the Nifty was up 97 points or 0.81% to 10,903. Top Sensex gainers were PowerGrid (2.13%), Hindustan Unilever  (1.73%) and TCS (0.62%).

10: 15 am: Tata Motors (1.65%), Bajaj Auto (0.84%)  and Adani Ports (0.78%) were the top losers. PC Jeweller was the top loser on the BSE falling 8.57% or 15 points to 162.85.

10:10 am: Market breadth was marginally positive with 636 stocks rising against 611 falling on BSE.

10:05 am: The rupee which fell to lowest since February 1, 2017  to a fresh 15-month low moved into the green after the market moved higher after a flat opening. The rupee opened at 67.68 per dollar , a fresh 15-month low but the rose later after the market moved into positive territory on likely BJP win in the Karnataka Assembly poll. The Indian rupee opened lower by 17 paise at 67.68 per dollar on Tuesday versus previous close 67.51. 

9: 45 am: Meanwhile, mid caps and small caps indices were trading 0.09%  and 0.44% higher on BSE.  Banking stocks led the gains with HDFC Bank (1.26%), YES Bank (1.18%) and Kotak Mahindra (0.79%) trading higher in morning trade.  The BSE Bankex rose 0.715 or 211 points to 29,950. Bank Nifty too was up 0.75% or 198 points to 26,673 level.

9: 30 am: BSE capital goods index too was trading higher by 108 points or 0.57% to 19,172 level. 

9:15 am: In early seconds of trade, the Sensex rose 8 points or 0.02% to 35,565 and the Nifty fell 2.30 points to 10,804 signalling a flat opening for the market.

9: 00 am: On Monday, the Sensex closed about 21 points higher after early gains were erased due to a sell-off by participants ahead of the outcome of Karnataka assembly elections. The broader 50-issue NSE Nifty edged up just 0.10 points to close at 10,806, after shuttling between 10,834 and 10,774.

7:45 am: Three days after Karnataka voted for a new assembly on May 12, the counting of votes cast in 222 assembly constituencies out of 224 will begin at 8 am today.