Congress, which was locked in a tantalising see-saw battle with the BJP in Madhya Pradesh, has emerged as the single-largest party with 114 seats after the vote count ended morning, according to the State Election Commission Office.
Congress will have to enlist the support of at least one of the four independents or of the lone Samajwadi Party (SP) candidate elected in Madhya Pradesh to form the next government in the state.
Congress is headed for a massive victory in the Chhattisgarh Assembly polls, bagging 53 seats and leading in 15 more in the 90-member House by late Tuesday night.
Congress is set to wrest Rajasthan from the BJP after its candidates were declared elected on 99 seats of the 199 that went to the polls.
The Indian rupee plunged 32 paise to 72.17 per US dollar in early trade on the forex market after the appointment of former bureaucrat Shaktikanta Das as the new governor of the Reserve Bank of India.
Rising for the second straight session, the equity benchmark BSE Sensex advanced over 300 points in early trade after former bureaucrat Shaktikanta Das was named as the new governor of the RBI.
Indian markets are likely to open flat. The Congress dislodged the saffron party out of power in Chhattisgarh and Rajasthan and was just two seats short of a majority in Madhya Pradesh. Shaktikanta Das has been appointed as the governor of RBI.
Disruptions to Libyan oil exports after local militia seized the country’s biggest oilfield, El Sharara, were also buoying prices, traders said.
The Manila-based institution, which released an update of its Asian Development Outlook on Wednesday, maintained its 2018 and 2019 economic growth estimates for the region at 6.0 percent and 5.8 percent, respectively.
Trump's meeting with Senate Minority Leader Chuck Schumer and House Minority Leader Nancy Pelosi was meant to prevent a potential government shutdown later this month, but "has spiraled downwards," Pelosi said.
“Under all likelihood, the 2019 public deficit will print above the 3.0 percent benchmark,” Societe Generale economist Michel Martinez wrote in a research note.
The highlight of the day was the ding-dong battle between the ruling BJP and the Congress in Madhya Pradesh where leads alternated between the two sides, with Congress getting a slight edge by winning 87 seats.
Economic Affairs Secretary Subhash Chandra Garg Tuesday said the December 14 RBI board meeting stands and there has been no change in the schedule so far.
With Congress set to form governments in Chhattisgarh and Rajasthan and locked in a close fight in Madhya Pradesh, party president Rahul Gandhi Tuesday said the selection of chief ministers in the three states will be done "smoothly".
With the Congress set to snatch Rajasthan and Chhattisgarh from the BJP and locked in a neck and neck fight with the party in Madhya Pradesh, the challenge from Rahul Gandhi to the Narendra Modi-led government appears more serious than ever before, and is expected to reflect in 2019, say experts.