Stock market update: Sensex and Nifty suffer heavy losses as Prime Minister Narendra Modi’s NDA wins fewer seats than expected. India’s equity benchmark indexes ended down over 5 per cent, their worst day in four years as investors suffered losses. ₹3.1 million crores in just six and a half hours. This comes after the results of the Indian Lok Sabha elections did not give a significant electoral gain to the NDA, contrary to exit polls.
The Sensex index fell 4,389.73 points or 5.74 percent to close at 72,079.05 points. Meanwhile, the Nifty index fell 1,379.40 points or 5.93 percent to close at 21,884.50 points. All Nifty sector indices, except Nifty FMCG, fell sharply with Nifty Metals, Nifty Banking, Nifty Financial Services, Nifty Public Sector Banking, Nifty Private Sector Banking, Nifty Real Estate and Nifty Oil & Gas being the biggest losers.
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