Sensex plunges 6000 points amid shocking trends, Nifty falls 1600 points

Earlier, the market had never seen such a big decline on the day of the Lok Sabha election results. See the chart below to see the condition of the Sensex after the results of the previous general elections.

Bhoomi Goyal
Published on: 4 Jun 2024 10:29 AM GMT
Sensex plunges 6000 points amid shocking trends, Nifty falls 1600 points
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The stock market has fallen sharply after the NDA's weaker-than-expected results in the election results. Nifty has lost all its gains made so far in the year 2024. Shares of Adani Ports, Adani Enterprises, ONGC, NTPC and Coal India are the top Nifty losers.

The stock market has seen its biggest fall ever on the day of election results. Amid a close contest between the NDA and the Indy alliance, the Sensex slipped more than 6000 points for the first time on the day of election results. There is an uproar in the stock market amid the election results. At 12:16 pm, the Sensex fell 5188.93 (6.79%) points to reach the level of 71,279.85. On the other hand, Nifty slipped 1,627.10 (6.99%) points to trade at 21,636.80. The market capitalization of all listed companies on BSE fell by Rs 36.3 lakh crore to Rs 425.9 lakh crore. Earlier, the market had never seen such a big decline on the day of the Lok Sabha election results. See the chart below to see the condition of the Sensex after the results of the previous general elections.

On the day of the results of the 1999 Lok Sabha elections, both Sensex and Nifty fell by 0.24%. In 1999, the NDA won and Atal Bihari Vajpayee became the Prime Minister of the country. On the other hand, on the day of the results of the 2004 general elections, the Sensex fell by 11.10%. Then the NDA had to face defeat and the UPA government was crowned. Manmohan Singh became the Prime Minister of the country.

However, on the day of the election results in 2009, both Sensex and Nifty jumped by more than 17%. The UPA government returned to power in 2009. On the day of the election results in 2014, the benchmark indices Sensex and Nifty strengthened by about 0.90%. The NDA won the 2014 Lok Sabha elections and Narendra Modi became the Prime Minister of the country for the first time. But on the day of the 2019 general election results, the stock market registered a decline of about 0.76%. The NDA returned to power in 2019 and Narendra Modi became the Prime Minister of India for the second time.

Bhoomi Goyal

Bhoomi Goyal

English Content Writer in Newstrack from Jaipur, Rajasthan. (Education, Business, Technology, Political, Sports, Lifestyle, Crime and Webstories)

My self Bhoomi Goyal from Jaipur, Rajasthan. I have passed my Master's in Journalism and Mass Communication this year. I worked in Rajasthan Patrika for six months as an intern. I am working here from June 1st. I passed my graduation in BCA from Rajasthan University and master's in journalism and mass communication from Vivekananda Global University, Jaipur.

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