Sensex swings 500 points on Karnataka verdict; rupee weakens to 68

The index had soared to a fresh three-month high of 35,994 as early trends showed the BJP was set for a clear majority in the 224-member Karnataka Assembly

The benchmark Sensex came off nearly 500 points from the day's high after the Bharatiya Janata Party (BJP) fell short of touching the majority mark, while the opposition parties scurried to stitch together a coalition.

The index had soared to a fresh three-month high of 35,994 as early trends showed the BJP was set for a clear majority in the 224-member Karnataka Asembly. The Sensex closed at 35,544, down 13 points from the previous day's close, and 450 points off the day's high. The Nifty ended flat at 10,802, after climbing to 10,929. Both the indices were about one per