Updated June 4th, 2024 at 09:59 IST

Sensex crashes over 2,000 points amid strong volatility due to election result trends

Out of 50 stocks in NSE’s Nifty 50, 48 were trading in red with only Hindustan Unilever and Sun Pharma being the only exceptions.

Reported by: Anirudh Trivedi
Stock market crash | Image:Republic World
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Stock Market Live: BSE Sensex has crashed 2,000 points to fall below the 74,500 mark as PM Modi’s National Democratic Alliance loses the earlier gains in election results early trends. The market is reacting aggressively to the election result trends as Nifty tanks 830 points or 3.57 per cent and currently hovering at 22,600. 

Out of 50 stocks in NSE’s Nifty 50, 48 were trading in red with only Hindustan Unilever and Sun Pharma being the only exceptions. 

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Adani Enterprises has lost close to 10 per cent in the early trade followed by Adani Ports which is down by 8.44 per cent, and Coal India down by 7.47 per cent. Following the decline are NTPC, Power Grid, ONGC, SBI, and L&T. 

As of 09:40, all sectoral indices were trading in red with Nifty PSU Bank tanking by more than 6.21 per cent and NIFTY Metal down by 4.04 per cent. The Nifty Oil and Gas index was trading close to 5 per cent down. 

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Following a 15 per cent decline on Monday, driven by heightened market optimism due to exit polls, the INDIA VIX, commonly referred to as the Volatility Index, surged by 18.05 per cent to reach 24.74 as the markets reacted aggressively to election results early trends. 

In the previous session, the INDIA VIX had remained around 20.

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Published June 4th, 2024 at 09:38 IST