Leader Online Desk : Today, the result of the counting of votes of the Lok Sabha elections was felt on the stock market. The primary trend of the election seems to be different than the exit polls predicted. Investors suffered heavy losses due to a sharp sell-off in the Indian stock market in the first 20 minutes of trading as the NDA and India alliance tightened.
What happened in the opening session today?
The Sensex fell 1.80% to open around 75,180. Nifty also opened above 22,900 with a decline of over 1.70% st Nifty Bank with a decline of 1.90% opened at 50,000 level. The rupee weakened by 9 paise to open at 83.23/$.
20 lakh crore reduction in investor wealth
In the first 20 minutes of today's trading, his wealth fell by around Rs 20 lakh crore. The total market capitalization (mcap) of the above-listed companies fell to around Rs 406 lakh crore on BSE around 9:35 am on Tuesday. Around the end of the previous session, this figure was Rs 426 lakh crore. The benchmark Sensex and Nifty 50 fell 4 percent each, while the BSE midcap and smallcap indices lost up to 5 percent in early trade on Tuesday.
'Ups and downs' in the polls, slumps in the stock market
In the counting of votes for the Lok Sabha elections, a close fight is seen. This had an effect on the stock market. There was a big fall in Sensex today. It opened with a fall of 183 points in early trading. Immediately the Sensex fell by 1700 points to hit a low of 74,753. The Nifty also opened with a fall of over 84 points and has fallen over 539 points to 22,724.80. India VIX was at 26 at 9:30 am.
The counting of votes for the Lok Sabha elections started today (June 4) at eight o'clock in the morning. In the initial counting of votes, the BJP-led NDA had taken a decisive lead. But later India Aghadi also made a strong comeback. The NDA lost in the initial polls and this had a direct impact on the stock market. It opened with a fall of 183 points in early trading. Immediately the Sensex fell by 1700 points to hit a low of 74,753. The Nifty also opened with a fall of over 84 points and has fallen over 539 points to 22,724.80.
