1. Indian stock markets faced a notable decline after a strong rally in the previous session.
2. Early vote-counting trends suggested that Prime Minister Narendra Modi’s Bharatiya Janata Party-led alliance was ahead in over 272 seats.
3. The extent of the victory was uncertain despite the initial lead.
Mumbai, June 04: Today, Indian stock markets experienced a significant downturn following a substantial surge in the previous trading session.
This came as early vote-counting trends indicated that Prime Minister Narendra Modi’s Bharatiya Janata Party-led alliance was leading in more than 272 seats, although the exact magnitude of the victory remained uncertain.
As of 9:30 am, the NSE Nifty 50 index dropped by 3.03% to 22,557, while the S&P BSE Sensex declined by 3% to 74,107.
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Just the day before, these benchmarks had surged by over 3%, reaching record highs and marking their most impressive session in nearly 40 months.
This surge came on the heels of exit polls suggesting that the BJP-led alliance was poised to secure a two-thirds majority in the lower house.
According to early trends, the NDA is currently leading in 288 seats, with the INDIA bloc ahead in 213 seats.
