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Experts dispute claims that weakened central government will delay reforms mon on June 4th alina on 160 in 21

The Business Guardian

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June 06, 2024

Following the parliamentary election results that revealed a weaker majority for Prime Minister Modi's NDA alliance, the National Stock Exchange (NSE) experienced a significant decline in market capitalization.

This downturn resulted in investors losing up to Rs 24 lakh crore. The market capitalization, which had reached USD 5 trillion on May 23rd, stood at USD 4.69 trillion by June 4th. Public sector banking shares bore the brunt of this sell-off. The State Bank of India, India's largest public sector bank, saw its market cap plunge from Rs8 lakh crore on June 3rd to below Rs 7 lakh crore on June 4th, resulting in a loss exceeding Rs 1 lakh crore. Major private sector banks were also affected: HD

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