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Nifty pares early gains; all eyes on Karnataka election results

Reuters 

(Reuters) - Indian shares pared earlier gains to end largely flat on Tuesday after the main opposition party said it would form an alliance with the (Secular) party to Narendra Modi's (BJP) in the assembly elections in the southern state of

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.

led losses on both indexes, falling as much as 5.5 percent to its lowest in over 2 years, before ending 4.2 percent lower.

(Reporting by in Bengaluru, Editing by Sherry Jacob-Phillips)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 15 2018. 15:55 IST
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