Benchmark indices Sensex and Nifty plummeted in early trade on Tuesday as initial counting for the Lok Sabha polls indicated a mixed trend. The 30-share BSE Sensex dropped 1,715.78 points to 74,753, while the NSE Nifty tumbled 539.1 points to 22,724.80. The BSE benchmark later traded down 2,623.91 points at 73,844.36, and the Nifty was 617.45 points lower at 22,646.45.
Major losers and gainers
Among Sensex constituents, Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries, and HDFC Bank were the biggest laggards. Sun Pharma and Nestle were the only gainers.
Political trends
The BJP-led NDA showed leads in over 200 parliamentary seats out of 350, with the opposition INDIA bloc ahead in 120, according to television reports.
FII activity
Foreign Institutional Investors (FIIs) bought equities worth Rs 6,850.76 crore on Monday, according to exchange data.
Global markets
Asian markets showed mixed results, with Seoul, Tokyo, and Shanghai trading lower, while Hong Kong saw gains. US markets ended mixed on Monday. Brent crude declined 0.68% to USD 77.83 a barrel.
Previous session recap
Markets surged on Monday following exit polls predicting a significant win for the BJP-led NDA. The BSE benchmark soared by 2,507.47 points (3.39%) to a new closing peak of 76,468.78, marking its largest single-day gain in three years. The NSE Nifty climbed 733.20 points (3.25%) to finish at 23,263.90.
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