Stock market crashed due to election results, investors lost 30 lakh crore rupees in one day…

Mumbai. The impact of the NDA getting a tough challenge from the Indian block in the Lok Sabha elections was seen in the stock market. The BSE Sensex closed down 4,390 points at 72,079 points with a fall of 5.74 percent, while the Nifty50 closed down 1379 points at 21,884 with a fall of 5.93 percent.
The market capitalisation of all companies listed on the BSE fell sharply. A loss of Rs 29.9 lakh crore was recorded in a single day, taking the total capitalisation to Rs 396 lakh crore. At one point during the day, the indices fell by as much as 8.5%, reminiscent of the market turmoil seen during the onset of the Covid-19 pandemic.
Markets hit new lows in the afternoon as the BJP-led alliance failed to recover from early trends and the possibility of a coalition government getting a clear majority faded. Markets closed with a massive drop of nearly 6%. Though the counting process is still underway, most directions show the NDA getting fewer seats than expected, which affected market sentiment.
Narendra Solanki, Head, Fundamental Research – Investment Services, Anand Rathi Shares & Stock Brokers, says, “On the investor front, we believe a large part of the fall was due to high expectations built into the markets. This volatility should give investors an opportunity to add good stocks for long-term growth, as we remain positive on the overall growth prospects of the economy.”