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Fall of the Bharatiya Janata Party’s (BJP) three-day-old government in Karnataka over the weekend might not go down well with investors even though the market was factoring in a disappointment since Tuesday when election results signalled a hung assembly in Karnataka.
After the fall of the BJP government, HD Kumaraswamy, who is heading the Congress-Janata Dal (Secular) coalition, is set to become Chief Minister for the second time on May 23.
The Nifty corrected nearly two percent for the week-ended May 18 and slipped below its crucial support placed at 10,600, suggesting further pain in the coming session.
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