Nifty Intraday Next Target 10280—10210 – Neal Bhai Reports
The BSE Sensex was down 500 points and the Nifty 50 plunged below the 10,400 level ahead of the final assembly election results from five states. Benchmark indices BSE Sensex and NSE’s Nifty 50 slumped 2% in the previous session after exit polls released after market hours on Friday projected the BJP losing power in Rajasthan and facing a tight finish in Madhya Pradesh and Chhattisgarh—
Three states where it is in power. Another key event that will drive the markets today was the resignation of RBI governor Urjit Patel. Monday’s shock resignation of Patel, following a prolonged stand-off between the RBI and the government, has added to the uncertainty. The centre has been seeking to reduce curbs on lending, and gain access to RBI reserves.
In global markets, Asian stocks extended this week’s declines as investors shrugged off a US rebound. Benchmarks in Japan and South Korea fell, while stocks in Australia were little changed near a two-year low. US futures also declined. Oil prices remained on shaky ground after sliding by 3% the previous day. Here are the latest updates from the markets
