look news india
The Indian stock market fell sharply on Tuesday as the results of the Lok Sabha election counting were lower than the exit polls. The benchmark index Sensex closed with a decline of more than 5 percent and the Nifty closed with a decline of 6 percent. Tuesday's trading session was a loss-making one for the Indian stock market. As the results of the Lok Sabha election were not in accordance with the exit polls, the market witnessed an all-round decline and investors suffered a loss of Rs 30 lakh crore in a single trading session.
Where did the fall occur?
BSE's main index Sensex fell 4,389 points or 5.74 percent to close at 72,079 points and NSE's main index Nifty slipped 1,379 points or 5.93 percent to close at 21,884 points. Big selling was seen in midcap and smallcap stocks. Nifty Midcap 100 index fell 4,202 points or 7.88 percent to close at 49,150 points and Nifty Smallcap index fell 1,406 points or 8.23 percent to close at 15,692 points.
Which index fell the most?
The biggest impact of the decline was seen on the public sector bank, metal, energy, realty and infra index. These closed with a decline of up to 15 percent. Only the FMCG index closed in the green. It rose by about one percent. The market cap of the Bombay Stock Exchange (BSE) fell by about Rs 30 lakh crore to Rs 396 lakh crore, which was earlier Rs 426 lakh crore. India VIX, which shows the volatility in the market, closed with a jump of 27 percent at 26.74 points. NTPC, SBI, L&T, Power Grid, Tata Steel, IndusInd Bank and Reliance were the top losers in the Sensex pack. HUL, Nestle, TCS, Asian Paints and Sun Pharma were the top gainers.
What do market experts say?
Market experts say that the market was expecting a one-sided victory of the NDA, but this did not happen. Due to this, a big decline was seen in the market. Rupak Dey, Senior Technical Analyst of LKP Securities, says that the psychological level of 22,000 is going to be very important. If the decline is more than this, then the level of 21,400 to 21,500 can also be seen. There is a possibility of a big recovery only if BJP wins the election comfortably.
