Sensex drops 1700 points as INDIA Alliance performs better than exit polls projections in early trends
Sensex tanked by over 1700 points on Tuesday morning owing to INDIA Alliance's better-than-expected performance in early trends of Lok Sabha election results
The Bombay Stock Exchange, also called the Sensex, tanked 1,715.78 points to 74,753 in early trade; while Nifty dropped 539.1 points to 222,724.80 upon opening on Tuesday morning. Political experts attributed this to INDIA Bloc’s strong showing in the early trends of the Lok Sabha election results.
Most exit polls had predicted BJP-led NDA to secure 330-350 seats while limiting INDIA Alliance to under 150. But after counting began on Tuesday morning, early trends are showing INDIA Alliance candidates leading in over 220 of the 543 seats of the Lok Sabha.
India on Tuesday begun counting more than 64 crore votes in the world’s largest democratic exercise, which was widely expected to return Prime Minister Narendra Modi to a third term after a decade in power.
With inputs from agencies
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