New Delhi. Indian stock market registered a massive decline in view of the early trends of the Lok Sabha elections. Both Sensex and Nifty started the day in the red. Sensex opened at 76,285.78, down by more than 1600 points, while NSE Nifty opened at 23,179.50, down by more than 500 points. By around 9:30 am, Sensex fell further by 2,116.16 points or 2.77% to 22,603.05. Similarly, Nifty also fell by a massive 660.85 points (2.84%) and was trading at 22,603.05.
Trends started coming in from 8 am, keeping all eyes on the election results. This indicated an early lead for Narendra Modi’s BJP. Despite favorable cues from global markets, both the BSE Sensex and NSE Nifty opened lower today. This decline was already indicated in the pre-market sessions, with Sensex and Nifty falling even before the official trading began. The stock market had hit new highs on Monday, as exit polls projected a return to power for the Narendra Modi-led NDA government. Despite this optimism, today’s trade began on a negative note, influenced by early election results. Investors are also keeping an eye on GIFT Nifty, which is trading at a premium of 23,539.00, up 72 points or 0.31%.
Market Highlights
– Nifty Midcap 100 opened at 50,667 but fell 3.31% to 49,304.
– Nifty Smallcap 100 witnessed a sharp decline of over 5%, falling from its previous close of 17,098.70 to a low of 16,218.20.
– Adani Group stocks are in the news after a surge on Monday. Adani Power shares rose nearly 16%, while other Adani Group companies also made notable gains.
By 9:48 AM IST, the Sensex was down 2,116.16 points at 22,603.05, and the Nifty was trading near 22,600 after declining 660.85 points.