The Nifty 50 markets closed during the vote counting, following which the earlier escalation of counting’s made it visibly hard for BJP to cross the majority mark. Even though it was somewhat obvious that the BJP led NDA alliance would escalate BJP towards victory, the investors might have been left surprised and confused at the same time of the political stability and policies or the events that shall unfold following the victory or loss of the wanted government.
The earlier claimed statement by PM Modi about raise of stock value on June 4 due to the victory of BJP, along with the excellent sensex and nifty50 rates on 3rd June had made the investors confident yet the very unpredicted result today made the same investors reluctant.
After closing at 23,263.90, the Nifty 50 began at 23,179.50 and dropped 8.5% to reach its lowest point during the day of 21,281.45. In contrast to its previous close of 76,468.78, the Sensex began at 76,285.78 and fell 8.2 percent to reach 70,234.43. The Nifty 50 concluded with a loss of 1,379 points, or 5.93 percent, at 21,884.50, while the Sensex ultimately closed with an enormous loss of 4,390 points, or 5.74 percent, at 72,079.05.
The investors lost about more than 30 lakh crore in just one single day as the mcap of the listed firms fell from ₹426 lakh crores to ₹395 lakh crore. The Nifty 50 saw its largest percentage-term single-day decline in more than four years, beginning in early 2020.
