Sky has updated its Senate projection:
Centre-right coalition (Berlusconi): 31.9%
Centre-left coalition (Bersani): 28.7%
Five Star Movement (Grillo): 24.9%
Centrist coalition (Monti): 8.4%
We're still waiting for the projections from the Chamber of Deputies, but if they contradict the exit polls in the same way this may mark an amazing comeback for Berlusconi. Either that or his centre-right coalition will dominate the Senate while the centre-left dominates the Chamber of Deputies – deadlock.
http://www.guardian.co.uk/world/2013/feb/25/italian-election-results-live-coverage
The new projections suggesting a Berlusconi majority in the Senate have sent shares sliding on the Milan stock market ...
Stefano Fassino of Bersani's leftwing Democratic party is predicting another election:
The scenario from the projections we have seen so far suggest there will be no stable government and we would need to return to the polls.
It was unrealistic to imagine a broad coalition between the centre-left and the centre-right led by Silvio Berlusconi, he told Rai.