The domestic stock market was shaken as soon as it opened on Tuesday. The benchmark Sensex of the Bombay Stock Exchange (BSE) fell 2207.98 points to 74260.80 at 9:25 am. Similarly, the Nifty of the National Stock Exchange (NSE) was trading at 22,573.60 with a huge fall of 690.30 points. Actually, the market was overconfident about the results of the Lok Sabha elections that perhaps the NDA would be successful in a clean sweep. But the initial trend did not meet the expectations of the market. Due to this, the market was shocked and the market crashed.
Investors’ hopes were also shattered
In the trading session a day before the counting of exit poll trends, investors bought heavily seeing the indication of the return of the NDA government. Both the indexes of the domestic stock market reached new all-time highs. Understand this much that on June 3, investors earned Rs 14 lakh crore in a single day’s trading. But all these hopes were dashed on June 4 when in the initial trends, an interesting competition of trends was seen between NDA and India alliance. Obviously the market was disappointed and in the first 20 minutes of opening, investors had to suffer a loss of Rs 20 lakh crore.
Market experts told whether the market will recover or not
Market expert Kunal Saravgi while talking to INDIA TV said that today the recovery of the market will completely depend on the result. If by afternoon there are indications that NDA is getting around 350 seats, then the market can bounce back. When he was asked that if it seems that the All India Alliance government is formed, then how will the market react? On this question Saravgi said that there is little possibility of this happening, however, if this happens then a deep correction can be seen in the market. Nifty can go to the level of 22,000.
Market experts said that today the recovery of the market will completely depend on the election results.
The matter is quite interesting in trends
If we talk about the trends of vote counting, then at around 10:30 am, NDA was leading in the trends on 294 seats, while All India Alliance was also leading on 219 seats. There are a total of 543 seats in the Lok Sabha. NDA will have to touch the majority figure of 272 to form the government. We will have to wait till evening to know whether this will happen or not. Some big leaders of the party are trailing. In this, Smriti Irani was trailing in the trends in Amethi at 10:30 am. Apart from this, Maneka Gandhi was trailing from Sultanpur.
Shares of big companies tumbled
The shares of big companies came under the grip of a big fall in the market. Adani Group’s shares suffered a big blow. During the initial trading, the group’s shares fell by 18 percent. Whether the stock market will be able to recover today or not, it will completely depend on the indication of a stable government. For this, we will have to wait for the situation of the whole day, only then the situation will become clear.
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