Election Trends Cause Sensex to Fall by 3,000 Points, Nifty Slumps Over 22,450 Points

Sensex faced a fall of 3,000 points and Nifty crashed down over 22,450 points today as the election trends rolled out.

The stock market took a major hit today, with the Sensex and Nifty both dropping over 5%.

This rapd and big decline came after early election trends. In early election trends BJP was winning fewer seats than exit polls had predicted.

The BSE Sensex, which includes 30 companies, fell by 3,311.87 points or 4.33%, landing at 73,156.91.

Meanwhile, the NSE Nifty dropped 1,102.55 points or 4.73%, settling at 22,161.35. Later, the BSE benchmark continued its slide, plunging another 4,131.44 points or 5.40% to 72,337.34, and the Nifty fell further by 1,263.3 points or 5.43% to 22,000.60.

Within the Sensex, State Bank of India fall over 10%, and Power Grid and NTPC also dropped nearly 10%. Other significant losers were Larsen & Toubro, Axis Bank, Tata Steel, and Reliance Industries.

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However, after the exit polls, the market were blooming on Monday as it was expected that the Modi government would be coming back to power with a big victory.  This anticipated victory gave the Market a boost from Saturday but as the counting began the market fell!

Let us remind you till 4 pm NDA was near to 300 seats, and it is indicating that Modi government is coming but the opposition got surprising comeback in Indian politics again!