Sensex Drops More Than 2,000 Points Amid Lok Sabha Election Vote Counting

As of 9:15 am, the NSE Nifty 50 index had decreased by 2.2 percent to 22,779, while the S&P BSE Sensex had dropped by 1.8 percent to 75,163. 

New Delhi: Following a significant surge in the previous session, Indian stock markets plummeted today as early vote-counting trends indicated that Prime Minister Narendra Modi's Bharatiya Janata Party-led alliance was leading in over 272 seats, though the full scope of the victory was uncertain.

By 9:30 am, the NSE Nifty 50 index had dropped by 3.03 percent to 22,557, and the S&P BSE Sensex had fallen by 3 percent to 74,107.

On Monday, the benchmarks soared by more than 3%, achieving record highs and marking their best session in nearly 40 months after exit polls suggested the BJP-led alliance might secure a two-thirds majority in the lower house. According to early trends, the NDA is currently leading in 288 seats, while the INDIA bloc is ahead in 213 seats.

Among the 30 companies on the Sensex, the biggest losers were State Bank of India, Reliance, Larsen & Toubro, Power Grid, NTPC, and HDFC Bank. Sun Pharma and Nestle were the only gainers.

Foreign Institutional Investors (FIIs) purchased equities worth ₹6,850.76 crore on Monday, according to exchange data.

In Asian markets, Seoul, Tokyo, and Shanghai were trading lower, while Hong Kong saw gains. Meanwhile, US markets ended on a mixed note on Monday, and global oil benchmark Brent crude fell by 0.68 percent to $77.83 per barrel.