Investors on Tuesday saw their wealth chopped by a whopping Rs 39 trillion in stocks amid Lok Sabha poll jitters. The market capitalisation of all listed companies on BSE declined by Rs 39 trillion to Rs 385 trillion as against Rs 424 trillion, a high registered day before on Monday. Among benchmarks, Sensex tanked nearly 6,100 points to 70,234 points while Nifty50 dropped below 21,300 levels in intra day trade.
The broader markets fared even worse than benchmarks, with the BSE Midcap crashing by 11.8 per cent, while the SmallCap plunged by 10.3 per cent.
The Sensex was pushed down by heavyweight stocks such as Ambani led Reliance Industries, HDFC Bank, ICICI Bank and L&T.
On NSE all indices were trading in the red zone with Nifty PSU Bank down by 15.7 per cent, Nifty Metal by 12.7 per cent and NIfty Realty by 10 per cent.
This came after the early trends showed a tight fight between the BJP led NDA and INC led INDIA Alliance, contrary to the verdict of exit polls.
Contrary to the early trends, a dozen exit polls conducted by various agencies and media organisations gave the NDA anywhere between 316 and 400 seats. The exit poll results were published on Saturday after the final phase of the seven-phase elections, which had begun on April 19, concluded.
At 13:03 PM; the BSE Sensex recovered from its day’s low but was down by 6 per cent at 71,879 levels, while the NSE’s Nifty50 was down 6.04 per cent at 21,859 levels.
First Published: Jun 04 2024 | 1:14 PM IST
