Markets on Tuesday S&P BSE Sensex 35,543.94 -0.04% Nifty 50 10,801.85 -0.04% S&P BSE 200 4,678.22 -0.16% Nifty 500 9,365.90 -0.26% S&P BSE Mid-Cap 16,068.57 -0.81% S&P BSE Small-Cap 17,525.45 -0.65% SGX Nifty The SGX Nifty was at 10,756.50, down 0.64 per cent from the previous close. Asian Markets Asian markets fell in early trade on Wednesday after Pyongyang called off talks with Seoul, throwing a major US-North Korean summit into question, and a spike in the US 10-year Treasury yield to a seven-year high knocked sentiment on Wall Street. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1 per cent. South Korea's KOSPI was 0.4 per cent lower and Japan's Nikkei was down 0.3 per cent. Wall Street A surge in US government bond yields to their highest level in almost seven years sent Wall Street shares sliding on Tuesday after strong retail sales data stoked inflation concerns and investors fretted about looming trade talks between the US and China. The Dow Jones Industrial Average fell 193 points, or 0.78 per cent, to 24,706.41, the S&P 500 lost 18.68 points, or 0.68 per cent, to 2,711.45 and the Nasdaq Composite dropped 59.69 points, or 0.81 per cent, to 7,351.63. Good Morning! Welcome to Business Standard's live blog on markets.
The markets are likely to open on a cautious note on Wednesday after the outcome of Karnataka assembly elections and taking cues from their global peers.
The Bharatiya Janata Party (BJP) emerged as the single largest party in Karnataka with 104 seats, even as it fell short of the majority mark of 112. The Congress stood second with 78 seats and former prime minister H D Deve Gowda’s Janata Dal (Secular) third with 37 seats. Eager to stop the BJP’s march into South India, former Congress President Sonia Gandhi sought the JD(S)’s support, offering the CM post to the latter’s H D Kumaraswamy, should the party agree to form a government in the state in alliance with the Congress. All three major parties – the BJP, Congress and JD(S) – met Karnataka Governor Vajubhai Rudabhai Vala to stake a claim to form the next state government.
GLOBAL MARKETS
Asian markets fell in early trade on Wednesday after Pyongyang called off talks with Seoul, throwing a major US-North Korean summit into question, and a spike in the US 10-year Treasury yield to a seven-year high knocked sentiment on Wall Street.
MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1 per cent. South Korea's KOSPI was 0.4 per cent lower and Japan's Nikkei was down 0.3 per cent.
In US markets, A surge in US government bond yields to their highest level in almost seven years sent Wall Street shares sliding on Tuesday after strong retail sales data stoked inflation concerns and investors fretted about looming trade talks between the US and China.
The Dow Jones Industrial Average fell 193 points, or 0.78 per cent, to 24,706.41, the S&P 500 lost 18.68 points, or 0.68 per cent, to 2,711.45 and the Nasdaq Composite dropped 59.69 points, or 0.81 per cent, to 7,351.63.
(with Reuters inputs)