Stock Market Crash Live Updates: Sensex Plummets Over 4,000 Points: Adani Ports Leads Decline
The Stock Market experienced a sharp decline today, with the Sensex plunging over 4,000 points as the counting for the 543 Lok Sabha constituencies began.
This downturn follows a dramatic surge on Monday, where the Sensex soared 2,778 points (nearly 4%) to reach an all-time high of 76,738.89, and the Nifty 50 surged 808 points (nearly 4%) to hit a record high of 23,338.70, fuelled by exit polls predicting the return of the Modi government for a third term.
Sensex and Nifty dropped by 2% each as election trends emerged. Sensex hit an all-time high on Monday before tanking over 4,000 points today. Nifty fell below the 22,450 mark.
On Monday, Sensex and Nifty logged their biggest single-day gains since February 1, 2021, following the budget presentation. BSE market capitalization soared to ₹4,25,91,511.54 crore (USD 5.13 trillion). NSE market capitalization stood at ₹422.48 lakh crore (USD 5.09 trillion).
Gainers: HUL (+2.58%), Britannia (+1.82%), Apollo Hospitals (+1.62%), Divi’s Laboratories (+1.52%), Sun Pharma (+1.44%).
Losers: Adani Enterprises (-6.74%), Adani Ports (-6.25%), Coal India (-5.75%), Shriram Finance (-5.28%), ONGC (-5.19%).
India’s economy grew by 8.2% in the fiscal year ending March 2024, maintaining its status as the fastest-growing major economy globally. The exit polls on Saturday had predicted a significant majority win for the BJP-led NDA, leading to Monday’s market rally.
