Election result lead to mayhem at Dalal Street, Sensex, Nifty down near 6 pc

Mumbai (Thestates.news) | The Indian Benchmark Indices were for free fall today as the incumbent BJP struggled to cross the 250-mark which is way behind the magic figure of 272 for clear majority in the Parliament. The BSE Sensex and the Nifty crashed nearly 6 percent on Tuesday witnessing one of the worst single-day fall since Covid.
At one time, the BSE Sensex had tanked more than 6000 points to touch day’s low of 70,234.43 before recovering a bit to close at 72,079. Finally the BSE Sensex closed 4389.73 points down.

The National Stock Exchange (NSE) closed 1379.40 points down at 21884.50.The NSE registered days high and low at 23,179.50 and 21281.45 points respectively. The day opened on a tepid note at 76285.78, down 183 points. As the election trends started pouring, the market was for a free fall and during the day it tanked 6234 points at 70234, its worst fall since March 2020.

Yesterday, the Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) were net buyers with Rs 6,850 crore and Rs 1,913 crore respectively to lift the market as the Exit poll had predicted clear victory for BJP and NDA. The stocks that dropped were Power by 14.25 per cent, Utilities by 14.40 per cent, BSE services by 12.65 per cent. In 30-share, Sensex only 6 advanced while 24 declined.

The Mid Cap slipped 8.07 percent and small Cap by 6.79 percent. The losers were NTPC by 14.79 percent to Rs 334, SBI by 13.67 percent to Rs 781.95, L&T by 12.34 percent to Rs 3416.55, Powergrid by 11.16 percent to Rs 300 and Tata Steel by 8.24 percent to 159.90. The gainers were Hind Unilever by 5.74 percent to Rs 2490, Nestle India Ltd 3.29 percent to Rs 2432, TCS by 0.61 per cent to Rs 3730 and HCL Technology by 0.27 per cent to Rs 1318.20.(UNI)