Markets end flat ahead of Karnataka election

The 30-share index Sensex closed 20.92 points up at 35,556.71, while the Nifty 50 ended unchanged at 10,806.60, up 0.10 points.

Even as the market tracks Karnataka results on Tuesday, a few companies including Abbott India, Hindustan Unilever, Dr. Lal PathLabs, Britannia Industries, Lupin, Hindalco, ITC, Tata Steel, Bajaj Finance and Bajaj Auto are likely to announce their March 2018 quarter earnings later this week.

Wholesale Price Index (WPI) data released on Monday showed that WPI-based inflation hit a four-month high in April, as food inflation beat deflationary trends from the month before and energy prices saw a sudden rise. It rose to 3.18 per cent in April, up from the 2.47 per cent rise seen in March and the 3.85 per cent rise in April last year. The inflation data for February was revised upwards to 2.74 per cent from the provisional estimate of 2.48 per cent.

Prospects of a thaw in US-China trade tensions supported global stocks on Monday, as US President Donald Trump pledged to help ZTE Corp “get back into business, fast” after a US ban crippled the Chinese technology company, while oil prices retreated from highs.


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