Sensex, Nifty in Freefall-Markets Down By nearly 4000 Points, all Sectors in Red as Bears Take Charge on Election Results Day

BSE Sensex declined by 4,131 points or 5.40 per cent to 72,337. Whereas, NSE Nifty slumped 1,263 points or 5.43 per cent to 22,000
Sensex down by nearly 4000 points
Sensex down by nearly 4000 points

Both Sensex and Nifty witnessed a sharp plunge on June 4 as the counting for Lok Sabha Elections 2024 began sending faltering sentiment in the D-street. Benchmark indices plummeted by more than 5 per cent during the late morning trading session as the initial trend showed BJP winning fewer seats than what was predicted in exit polls.

The 30-share BSE Sensex dropped 3,311 points or 4.33 per cent to 73,156. Whereas, NSE Nifty tumbled 1,102 points or 4.73 per cent to 22,161. Soon after the BSE benchmark dived 4,131 points or 5.40 per cent to 72,337 and the Nifty slumped 1,263 points or 5.43 per cent to 22,000.

Among the 30 Sensex companies, State Bank of India tanked over 10 per cent, while Power Grid and NTPC plunged nearly 10 per cent.

Larsen & Toubro, Axis Bank, Tata Steel and Reliance Industries were the other big laggards.

The BJP-led NDA on Tuesday was leading in 280 seats to cross the majority in trends available for 528 seats, while the Congress also crossed the 100-mark in terms of leads, the Election Commission data showed.

The BJP was ahead in 234 seats at 10:30 am and won the Surat seat in Gujarat uncontested.

The Congress-led INDIA bloc was leading in 200 seats, a performance that appeared much better than what was predicted in the exit polls.

Foreign Institutional Investors (FIIs) bought equities worth Rs 6,850.76 crore on Monday, according to exchange data.

In Asian markets, Seoul, Tokyo and Shanghai were trading lower while Hong Kong traded with gains.

US markets ended on a mixed note on Monday.

Global oil benchmark Brent crude declined 0.82 per cent to USD 77.72 a barrel.

On Monday, markets had jumped sharply after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls.

(With inputs from PTI)

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