Share Market Crash: Investors have lost Rs 38 lakh crore between the figures released in the afternoon and the election results. During the trading session, at around 12.30 pm, the Sensex fell by more than 6000 points to 70,234 points.
Lok Sabha Chunav Result 2024: It was only two days ago when different exit polls claimed that the NDA would get 350 seats in the Lok Sabha elections. With the arrival of the Modi government’s return to power, a tremendous rise was seen in the Sensex and Nifty on June 3. Yesterday, the biggest rise was seen in the Sensex after 2021 and the Sensex closed above 76000 with a gain of 2507 points. Similarly, the Nifty closed at 23,263 points with a gain of 733 points. But this morning when the counting trends started coming, initially the Sensex saw a decline of about 200 points. At that time no one had realized that the biggest fall ever would come. Biggest fall in a day in Sensex
In the first 20 minutes of the trading session, the Sensex fell by more than 2500 points. But by afternoon, this fall increased to over 6000. This is the biggest fall in a day in Sensex till date. Investors would have hardly thought that the Sensex could fall to this extent. Between the figures released in the afternoon and the election results, investors have lost Rs 38 lakh crore. During the trading session, at around 12.30 pm, the Sensex fell by more than 6000 points to 70,234 points.
Market cap fell to 388 lakh crores
According to the data, the market cap fell to 388 lakh crores due to the sell-off. It was Rs 426 lakh crore at the end of the trading session on Monday. Nifty fell by about 2000 points to the level of 21,281 points. There are about three hours left for the stock market to close. If the fall increases further, the figure of loss will increase further. There is an atmosphere of fear among foreign investors as well as domestic investors and people are finding it appropriate to withdraw money from the market.
The wind of ‘Abki Baar, 400 Paar’ is out
Before the Lok Sabha elections and amid preparations, the NDA alliance started its election campaign by claiming ‘Abki Baar, 400 Paar’. The impact of BJP’s claims was also seen on the exit poll figures. Based on the average of the exit polls, it was claimed that the NDA would cross the 350 mark. Before the election results were announced, market experts were also predicting a rise in the stock market. But now the entire situation has changed due to the fall in the market.
Experts’ advice, take advantage of the decline
Amid the decline in the stock market, experts say that one can take advantage of the big decline in the market. Experts say that investors can take advantage of this and buy new shares. This decline is being seen due to selling in the stock market. The BSE Midcap Index has seen a decline of more than 10 percent. BSE Smallcap fell by about 10 percent intraday on Tuesday.
The estimate of majority for NDA ‘fails’
Experts say that according to the exit poll data, the Indian stock market had estimated a majority for the NDA. But investors are scared as the trends are not as per expectations and are selling heavily. Dr. VK Vijaykumar, Chief Investment Strategist of Geojit Financial Services, said that the election results so far are a major reason for the decline. Yesterday the market had gained momentum considering the exit poll predictions to be correct. But today it fizzled out. This has led to disappointment among investors.
AI exit poll close to reality
Talking about Zee News’ AI exit poll, it seems to be the closest to reality. Zee News had conducted an AI exit poll a day before the counting of votes for the Lok Sabha elections. In the AI exit poll, the BJP-led NDA was predicted to get 305-315 seats and the I.N.D.I.A. alliance was predicted to get 180-195 seats. While others were predicted to get a maximum of 52 seats. Zee News had used artificial intelligence in this exit poll. AI technology was also used in data collection and data processing.
