The Nifty index climbed over 1 per cent during the day on hopes of a BJP victory with majority in Karnataka elections . While the BJP emerged as the single largest party, it failed to attain majority, thus increasing the likelihood of a Congress-JD(S) alliance. With more results scheduled in the next 1-2 weeks, stock specific volatility is likely to remain high. Behaviour of crude oil prices and currency movement will be closely monitored by the market participants. The company yesterday reported 14.2 per cent increase in its standalone net profit to Rs 1,351 crore for the fourth quarter.Among the sectors, IT, metal and TECK went home with mild gains.

Source: Economic Times May 15, 2018 11:15 UTC