Bloodbath At Dalal Street: Stock Market Continues To Bleed In Red; Sensex Down By Over 5559.74; Nifty Plunges 1,772.30

The market continues to bleed at Dalal Street amid the official counting of votes for the Lok Sabha 2024 began today, June 4.

The 30-share BSE Sensex at 12:21 PM IST is trading at the day at 70,909.04, down by 5559.74 points or 7.27 per cent. Similarly, the NSE Nifty trading negatively at 21,491.60, down by 1,772.30 points or 7.27 per cent.

Moreover, the Nifty Bank sheds by 3,652 points or 7.17 points, at 47,327.00.

The Nifty Next 50 is also trading in red, down by 6,593.65 points or 9.34 per cent at 64,026.60.

Gainers and Loser - Sensex

From the Sensex pack, Hindustan Unilever is the only trading in green with 3.09 points. Among the laggards NTPC is down by 19.44 per cent, followed by SBI (-17.61 per cent), PowerGrid (-15.93), LT (-14.42).

All the sectoral stock market indexes are TRADING losses today amid the ongoing election result counting. Sectors like Capital Goods, Oil & Gas, Power, and PSU Banks have seen significant declines, each dropping more than 10 percent.

Additionally, the BSE Midcap and Smallcap indexes have also fallen, each down by 6 percent.

The stock market took a big hit, the worst since March 2020, and it erased all the gains made on Monday. This happened because exit polls indicated that the BJP-led alliance is likely to win a two-thirds majority in the Lok Sabha. But as the official counting of the election continues, the BJP led NDA government is leading tally but the seat count narrows.