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Lok Sabha Election Result 2024: It was just two days ago when different exit polls claimed that the NDA would get 350 seats in the Lok Sabha elections. With the Modi government coming back to power, there was a tremendous rise in the Sensex and Nifty on June 3. Yesterday, the Sensex saw the biggest rise after 2021 and the Sensex closed above 76000 with a gain of 2507 points. Similarly, the Nifty closed at 23,263 points with a gain of 733 points. But this morning when the counting trends started coming, the Sensex initially saw a decline of about 200 points. At that time no one had any idea that the biggest fall would come till date. Biggest fall in Sensex in a day
Within the first 20 minutes of the trading session, the Sensex fell by more than 2500 points. But by noon, this fall increased to more than 6000. This is the biggest fall in the Sensex in a day so far. Investors would have hardly thought that the Sensex could fall to this extent. Between the figures released in the afternoon and the election results, investors have lost Rs 38 lakh crore. During the trading session, at around 12.30 pm, the Sensex fell by more than 6000 points and reached 70,234 points.
Market cap fell to Rs 388 lakh crore
According to the data, due to the sell-off, the market cap fell to Rs 388 lakh crore. It was Rs 426 lakh crore at the end of the trading session on Monday. Nifty fell by about 2000 points to the level of 21,281 points. There are about three hours left for the stock market to close. If the fall increases further, the figure of loss will increase further. There is an atmosphere of fear among foreign investors as well as domestic investors and people are finding it appropriate to withdraw money from the market.
The wind of 'this time, cross 400' is gone
Before the Lok Sabha elections and amid preparations, the NDA alliance started its election campaign by claiming 'Abki Baar, 400 Paar'. The impact of BJP's claims was also seen on the exit poll figures. Based on the average of the exit polls, it was claimed that the NDA would cross the 350 mark. Before the election results came out, market experts were also predicting a rise in the stock market. But now the entire scenario has changed due to the fall in the market.
Experts' advice, take advantage of the decline
Amid the fall in the stock market, experts say that the big fall in the market can be taken advantage of. Experts say that investors can take advantage of this and buy new shares. This fall is being seen due to selling in the stock market. The BSE Midcap index has seen a fall of more than 10 percent. On Tuesday, the BSE Smallcap fell by about 10 percent intraday.
Predictions of NDA getting majority fail
Experts say that according to the exit poll data, the Indian stock market had predicted that the NDA would get a majority. But as the trends are not as expected, investors are scared and are selling heavily. Dr. VK Vijaykumar, Chief Investment Strategist of Geojit Financial Services, said that the election results so far are the main reason for the decline. Yesterday, the market had risen, assuming the exit poll estimates to be correct. But today this momentum has faded. This has disappointed investors.
AI exit polls closer to reality
Talking about Zee News' AI exit poll, it seems to be closest to reality. Zee News had conducted an AI exit poll a day before the counting of votes for the Lok Sabha elections. In the AI exit poll, the BJP-led NDA was predicted to get 305-315 seats and the All India Alliance was predicted to get 180-195 seats. While others were predicted to get a maximum of 52 seats. Zee News used artificial intelligence in this exit poll. AI technology was also used in data collection and data processing.
