BUSINESS: Election results cause huge drop in stock market, panic situation prevails

Mumbai Mumbai: The stock market fell sharply on Tuesday and equity markets fell sharply due to uncertainties over the results of the Lok Sabha elections. equity The value declined by Rs 31 lakh crore. There was a lot of enthusiasm among investors. The BSE Sensex fell by about 6 percent and closed at 72,079.05. At its lowest level, it reached 70,234.43, which is the lowest level in five months.

This huge drop was seen just a day before

This is a reminder of the record-breaking rally. On Monday, the market capitalisation of companies listed on the BSE was Rs 4,25,91,511.54 crore ((US $ 5.13 trillion)). With this decline, the figure came down to Rs 3,94,83,705.27 crore (US $ 4.73 trillion).

Market analysts say that expectations of a clear majority of the BJP had earlier led to a rise. However, due to the lack of a decisive victory, there was profit booking. Market expert Siddharth Bhamare said, “Profit booking may continue for some time due to uncertainties about the coalition government.” Vinod Nair, Head of Research at Geojit Financial Services, suggested that the election results could lead to significant changes in political policies, which could benefit the rural economy.