Markets Crash as BJP Falls Short of Exit Poll Predictions

Benchmark equity indices Sensex and Nifty plummeted over 5 per cent on Tuesday morning amid trends showing the BJP winning fewer seats than predicted. Major losses were seen in companies like State Bank of India and NTPC. The BJP-led NDA was leading in 280 seats, while the Congress-led INDIA bloc was ahead in 200.

Benchmark equity indices Sensex and Nifty experienced a significant drop of over 5 per cent during late morning trading on Tuesday. This sharp decline came as initial trends indicated that the BJP was securing fewer seats than exit polls had forecast.

The 30-share BSE Sensex fell by 4.33 per cent, reaching 73,156.91, while the NSE Nifty tumbled by 4.73 per cent to 22,161.35. Further dips saw the Sensex plummet by 5.40 per cent to 72,337.34 and the Nifty decrease by 5.43 per cent to 22,000.60.

Major companies such as State Bank of India, which dipped by over 10 per cent, and Power Grid and NTPC, which plunged nearly 10 per cent, were among the significant losers. Other prominent laggards included Larsen & Toubro, Axis Bank, Tata Steel, and Reliance Industries.