Day after the Narendra Modi-led Bharatiya Janata Party (BJP) failed to secure majority alone in the general elections 2024, benchmark equity indices Nifty50 and Sensex recovered after their worst day in over four years.
Indian stock markets crashed by over 6,000 points on Tuesday, June 4, after a sharp rally in the previous session, even as early vote-counting trends showed Modi's BJP-NDA leading in more than 270 seats when markets opened.
Day after the Narendra Modi-led Bharatiya Janata Party (BJP) failed to secure majority alone in the general elections 2024, benchmark equity indices Nifty50 and Sensex recovered after their worst day in over four years.
BSE Sensex was trading over 1,400 points higher at 73,500 while Nifty topped 22,350 points on Wednesday.
Narendra Modi-led BJP lost its outright majority in parliament in a surprise election verdict on Tuesday, June 4, even though will still be able to form government with the help of its National Democratic Alliance (NDA) allies.
Indian stock markets crashed by over 6,000 points on Tuesday, June 4, after a sharp rally in the previous session, even as early vote-counting trends showed Modi's BJP-NDA leading in more than 270 seats when markets opened.
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While Sensex crashes 6,126.30 points to 70,342.48, Nifty tumbled 1,958.25 points to 21,305.65.
The benchmarks had jumped more than 3 per cent on Monday, hitting record highs and logging their best session in nearly 40 months after exit polls projected that the BJP-led alliance will likely get a two-thirds majority in the lower house.