![Bloodbath On D-Street: Investors Lose ₹31l Cr](https://cdn.magzter.com/1549608130/1717544392/articles/E7yyuBuKz1717562740061/Lok-Sabha-Elections-2024.jpg)
Equity investors suffered a massive loss of Rs 31 lakh crore on Tuesday as markets went into a tailspin with the BSE Sensex tumbling nearly 6 per cent as vote counting trends showed the BJP may not have a clear majority in the Lok Sabha polls.
Erasing the record-rally of the previous trade, the 30-share BSE Sensex cracked 4,389.73 points or 5.74 per cent to settle at 72,079.05. During the day, the benchmark tanked 6,234.35 points or 8.15 per cent to hit a nearly five-month low of 70,234.43.
Markets had previously declined by over 13 per cent on March 23, 2020 when lockdown was imposed due to the COVID-19 pandemic.
In line with weak trend in equities, the market capitalisation of BSE-listed companies eroded by Rs 31,07,806.27 crore to Rs 3,94,83,705.27 crore on Tuesday. Following the huge rally in equities on Monday, the market capitalisation of BSE-listed firms had climbed Rs 13,78,630.4 crore to hit an all-time peak of Rs 4,25,91,511.54 crore (USD 5.13 trillion).
"BJP falling short of a complete majority won't stop NDA from forming a new government along with its key allies. Stock markets have been expecting a complete majority for the BJP and a thumping victory for the NDA. Exit polls too cemented the expectations. Markets had factored in the best possible outcome and valuations are rich.
This story is from the June 05, 2024 edition of The Free Press Journal.
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This story is from the June 05, 2024 edition of The Free Press Journal.
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