Bloodbath on D-street

Stock indices witnessed bloodbath on the day the Lok Sabha results are being announced, where incumbent BJP performed below par and seems it may fall short of exit poll predictions and the majority mark on its own.

- NIVEDITA MUKHERJEE

The idea of a coalition government lead by BJP at the Centre has led to widespread market anxiety and a sharp decline in stock indices. The failure to secure a clear majority to BJP of its own raises concerns about the formation of a stable government and the continuation of economic reforms.

At the closing bell, Sensex closed at 72,079.05 points, down 4,389.73 points or 5.74 per cent, while Nifty closed at 21,884.50 points, down 1,379.40 points or 5.93 per cent.

The markets on Tuesday experienced significant volatility due to the uncertainty surrounding the election outcomes mainly due to the gap between the exit polls and the actual results declared, with broader indices, Nifty 50 closing the day at -5.93 per cent and the lowest of the day touching -8.19 per cent.