June 4, 2024 | Author: News Desk
The Indian share market posted massive losses this morning as initial trends forecast the BJP-led alliance will return for a third term but miss their 400-seat target. The market crash wiped out ₹ 36 lakh in just three hours, showed realtime data.
The market capitalization, or the total worth, of the companies listed with the Bombay Stock Exchange fell to ₹ 389 lakh crore, showed BSE data at 12:15 pm. The m-cap stood at over ₹ 425 lakh crore at yesterday’s closing.
Sensex is currently 5,000 points down while Nifty has crashed over 1,500 points, painting a grim picture for Dalal Street a day after both the indices reached their record highs. This is the lowest the market has crashed since the Covid-era.
The indices yesterday rallied over 3 per cent and posted their biggest single-day gains in three years, banking on exit poll predictions of continuity and political stability.
The predictions, however, seem to have undermined the opposition parties’ performance and made the market over-optimistic.
