After opening the day on a positive note, stock markets in India have continued their momentum and are trading in the green. Sectoral indices are trading on a positive note with stocks in the metal sector and banking sector witnessing maximum buying interest.

The BSE Sensex is trading up 208 points (up 0.6%) and the NSE Nifty is trading up 58 points (up 0.5%). The BSE Mid Cap index is trading up by 0.2%, while the BSE Small Cap index is trading up by 0.6%.

The rupee is trading at 67.52 to the US$.

Market participants are closely tracking the vote count for Karnataka elections.

At the time of writing, data showed Bharatiya Janata Party (BJP) emerging as the single largest party in Karnataka. The BJP has crossed the majority mark and is leading in over 111 seats. This is against 67 seats for Congress.

BJP leading six out of the eight bellwether seats. A seat or a constituency that votes for the political party which eventually forms the government is called a bellwether seat. Bellwether seats usually act as a marker for the final results.

There are high stakes involved as the outcome of this election would also determine the direction of the country's reforms and policies in the runup to the 2019 elections.

In the news from the macroeconomic space, data released by the government on Monday showed retail inflation accelerating to 4.58% in April from 4.28% in March. Wholesale price inflation also climbed to a four-month high of 3.18% in April compared with a 2.47% rise seen in March.

As per a leading financial daily, in a major rejig of the Modi government cabinet, the Union Railway Minister Piyush Goyal will now be given the additional charge of the finance Ministry till Arun Jaitley recovers from a kidney transplant surgery.

Apart from that, Smriti Irani, who had the extra charge of Information & Broadcasting Ministry, has been moved out and will now look after textiles ministry only.