Lok Sabha Elections Results: Indian stock markets experienced a significant crash today, plummeting by nearly 4,000 points following a sharp rally in the previous session. The downturn coincides with early vote-counting trends indicating that Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP)-led alliance is leading in over 272 seats.
However, the extent of the victory remains unclear, and the lead is narrower than exit polls had predicted.
At 11:10 am, the BSE Sensex had fallen by 5.07 percent, or 3,997 points, settling at 72,684. Similarly, the NSE Nifty 50 dropped by 5.07 percent, or 1,178 points.
This decline contrasts sharply with Monday’s performance, where the benchmarks surged over 3 percent, reaching record highs and marking their best session in nearly 40 months. This rally was driven by exit polls suggesting the BJP-led alliance might secure a two-thirds majority in the lower house.
Also Read: Lok Sabha elections result: NDA crosses majority mark amid tough fight from INDIA bloc
Early trends show the NDA leading in 288 seats, while the INDIA bloc is ahead in 213 seats. Despite the NDA’s lead, the market reaction reflects investor uncertainty about the final outcome and its implications.
The biggest laggards in the 30-company Sensex included State Bank of India, Reliance, Larsen & Toubro, Power Grid, NTPC, and HDFC Bank. In contrast, Sun Pharma and Nestle emerged as the only gainers in today’s trading session.
On Monday, Foreign Institutional Investors (FIIs) bought equities worth Rs 6,850.76 crore, according to exchange data, contributing to the previous day’s market rally.
In broader Asian markets, Seoul, Tokyo, and Shanghai were trading lower, while Hong Kong showed gains. Meanwhile, US markets closed with mixed results on Monday. Global oil benchmark Brent crude declined by 0.68 percent, trading at $77.83 per barrel.
As the vote counting continues, market participants remain on edge, closely watching for clearer indications of the election results and their potential impact on the political and economic landscape of India.
Read all the World News, Business News, Sports News, Entertainment News, Business News and Opinion here. Follow us on Facebook, Twitter and Instagram
