Sensex drowns 4,378 points, Nifty over 1,334 points as votes are counted for Lok Sabha polls

Following a sharp rally in the previous session, Indian stock markets collapsed by more than 5,000 points today. Early trends in the vote-counting process indicated that Prime Minister Narendra Modi’s alliance, led by the Bharatiya Janata Party, was leading in more than 272 seats, but the margin of victory was unclear and the party’s lead was less than exit polls had predicted.

At 12 pm, the NSE Nifty 50 was down 5.74 percent, or 1,334 points, while the BSE Sensex was down 5.71 percent, or 4,378 points, at 72,067. After exit polls suggested that the BJP-led alliance would probably win a two-thirds majority in the lower house, the benchmarks rose more than 3% on Monday, setting records and having their strongest session in almost 40 months.

Early indications indicate that the INDIA  bloc has 213 seats, whereas the NDA now has 288 seats.

State Bank of India, Reliance, Larsen & Toubro, Power Grid, NTPC and HDFC Bank were the biggest laggards among the 30 companies on the Sensex.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.