Nifty sheds early gains; Karnataka election results in focus [Reuters]
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Source: Reuters
Nifty sheds early gains; Karnataka election results in focus | Reuters Reuters Staff 2 Min Read (Reuters) - Indian shares shed early gains to end largely flat on Tuesday after the main opposition Congress party said it would form an alliance with the Janata Dal (Secular) party to rival Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) in the assembly elections in the southern state of Karnataka. BJP looked set to win the largest number of seats in the assembly elections in the state, which would give Modi momentum for a re-election bid next year and open the path for more reforms, which investors view as a positive for markets. The broader NSE Nifty closed down 0.04 percent at 10,801.85, while the benchmark BSE Sensex ended 0.04 percent lower at 35,543.94. Earlier in the session, both indexes rose over 1 percent to hit their highest in more than three months. Meanwhile, Indian bonds and the rupee weakened to multi-month lows, as global crude oil prices rose and the local inf
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