The Indian stock market collapsed during the counting of votes

Last Updated on June 4, 2024 1:58 pm

India’s Lok Sabha election results have seen a major crash in the stock market. Heavy losses in Bombay Stock Exchange as counting begins. The Sensex index fell by more than 2,000 points as the market opened. Nifty fell by 2 percent.

The 18th Lok Sabha elections ended on Saturday. Since then, exit poll results have come out one after the other. In all the exit polls, the NDA was leading by a huge margin in the race to form the government. The stock market is stormed by the possibility of ‘Modi government again’. Sensex rose more than 2 thousand points in one go. Hits all-time best index. Example average Nifty index.

However, the picture changed as soon as the counting of votes started on Tuesday. As soon as the counting of votes started from 8 am, it is seen that the India Alliance is clashing with the BJP-led NDA candidates. Even Prime Minister Narendra Modi himself is lagging behind in Varanasi. The India Alliance candidates won more seats than the exit polls in several states.

The stock market crashed as soon as the results came out. The Sensex has been down since the market opened on Tuesday morning. The index fell by more than 2,800 points. Most of the PSU sectors like Coal India, ONGC are facing losses. Shares of several major companies, including Adani, also fell. It is known that the investors have lost at least 9 lakh crore rupees.