After the completion of the Lok Sabha elections, the counting of votes is now underway. The counting of votes has begun at 7 am. Now the results are slowly coming out. On the other hand, the stock market is not very happy with the initial trends. The stock market has fallen badly on the day of the Lok Sabha election results. There is no excitement in the market on this day.
The 30-share Sensex of the Bombay Stock Exchange has fallen by more than 1700 points. The Nifty of the National Stock Exchange has suffered a decline of more than 400 points.
Let us tell you that a day before this, on Monday, after the exit poll results, both the indexes rose with record speed in the market. On this day, the BSE Sensex rose 647.75 points in the pre-open market. It opened at 77,116.53. On the other hand, the NSE Nifty opened with a gain of 172.55 points at 23,436.45 points. After the market opened with a good start, it declined. The Sensex fell 183 points. The Nifty also fell 84 points.
Key stock indexes Sensex and Nifty fell on Tuesday due to heavy profit booking in early trade amid mixed trend in the initial counting of votes for the Lok Sabha elections. The 30-share BSE index Sensex fell 1,715.78 points to 74,753 in early trade. While the NSE Nifty slipped 539.1 points to 22,724.80. After initial deals, the Sensex fell a massive 2,623.91 points to close at 73,844.36 and the Nifty fell 617.45 points to 22,646.45.
Among the 30 companies listed on the Sensex, Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries and HDFC Bank were the biggest losers. Only Sun Pharma and Nestle gained. According to television channel reports on Tuesday’s counting of votes for the Lok Sabha elections, the Bharatiya Janata Party (BJP)-led NDA was leading in more than 200 of the 350 parliamentary constituencies, while the opposition alliance ‘Indian National Developmental Inclusive Alliance’ (‘India’) was ahead in 120 seats.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei and China’s Shanghai Composite ended in losses while Hong Kong’s Hang Seng ended in gains. US markets closed with a mixed trend on Monday. Global oil benchmark Brent crude futures fell 0.68 percent to trade at US$ 77.83 per barrel. According to stock market data, foreign institutional investors (FIIs) remained bullish in the capital market on Monday and bought shares worth a net Rs 6,850.76 crore.
