Stock market crash as we speak: Investors lose Rs 30 lakh crore as BSE Sensex bleeds 4,390 points


Stock market crash as we speak: In a shocking flip of occasions, the Indian inventory market skilled a large meltdown on Tuesday as vote-counting developments indicated that Prime Minister Narendra Modi’s alliance may fall wanting the anticipated landslide victory.
The benchmark BSE Sensex plunged over 4,300 points, marking its worst efficiency in 4 years and erasing its good points for 2024.The broader NSE Nifty additionally suffered a major drop of 1,379 points or 5.93%, closing at 21,884.
The market capitalization of all listed firms on the BSE took a extreme hit, with Rs 29.9 lakh crore wiped off, bringing the whole to Rs 396 lakh crore. At one level in the course of the day, indices fell as a lot as 8.5%, harking back to the market turmoil witnessed in the course of the onset of the Covid-19 pandemic, based on an ET report.
Also Read | Adani Group shares plummet as inventory market crashes! M-cap falls by Rs 3 lakh crore
This sharp decline got here only a day after indices had jumped over 3% following exit polls that projected a two-thirds majority for the BJP-led alliance within the decrease home.
“The unexpected outcome of the general election sparked a wave of fear selling in the domestic market, reversing the recent substantial rally,” mentioned (*30*) Nair, Head of Research, Geojit Financial Services.
As of three:45 pm, the National Democratic Alliance (NDA) was main in almost 293 seats, falling wanting the magic variety of 272 required for a easy majority within the 543-member decrease home of parliament.
Also Read | RIL share worth as we speak: Reliance Industries’ inventory crashes 10%; buyers undergo Rs 1.67 lakh crore loss on Lok Sabha outcomes uncertainty
Adani Group shares bore the brunt of the market sell-off, closing 10-21% decrease. Among the Sensex pack, NTPC, SBI, L&T, and Power Grid suffered losses starting from 12-15%.
Almost all sectoral indices closed in deep crimson, with Nifty Bank falling 8%, Realty down 9.6%, PSU Bank plummeting 15%, Oil & Gas dropping 11.8%, and Metal declining 10.6%. Smallcap and midcap indices additionally closed 8.2% and seven.9% decrease, respectively.

Nilesh Desai
Nilesh Desai
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


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