The All India Market Capitalization index, tracked on the Bombay Stock index, lost over $370 billion on June 4 alone.
India's markets saw their largest one-day loss in four years after the electoral performance of Prime Minister Narendra Modi's ruling Bharatiya Janata Party fell short of expectations.
Pedestrians walk past a digital broadcast displaying share prices on the facade of Bombay Stock Exchange on the day of India's general election result in Mumbai on June 4, 2024.India's markets saw their worst one-day loss in about four years as the electoral performance of Prime Minister Narendra Modi's ruling Bharatiya Janata Party fell short of expectations.plunged 5.93% on Tuesday, while the BSE Sensex lost 5.74%, marking their largest loss since 2020.
The BJP-led National Democratic Alliance coalition, however, clinched 294 seats, managing to retain the parliamentary majority, crossing the 272 required to form the government.reportedlyThe opposition Indian National Developmental Inclusive Alliance coalition, or INDIA, which is led by the Indian National Congress, garnered 233 seats — a much better result than was predicted.
CNX Nifty Index Politics Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why Modi and BJP fell short of their own expectations in India electionsThe opposition INDIA alliance did much better than expected while incumbent Nerandra Modi’s right-wing coalition still clinched enough seats for a parliamentary majority.
Read more »
India election: Inside Modi and BJP's plan to win a supermajorityAs India votes in a six-week general election, Narendra Modi's image adorns everything from packs of rice handed out to the poor to large posters in cities and towns.
Read more »
CNBC's Inside India newsletter: What's next for India's regulators?One area that has caught regulators’ attention is the rapidly growing derivatives market, particularly futures and options trading.
Read more »
CNBC's Inside India newsletter: What's next for India's regulators?One area that has caught regulators’ attention is the rapidly growing derivatives market, particularly futures and options trading.
Read more »
Asia markets mixed as Indian election results, GDP reading from Australia digestedIndia’s election results will also be watched as the ruling BJP party lost its majority, although the wider BJP-led coalition has secured a majority
Read more »
Asia markets mixed ahead of GDP readings from Australia; Indian elections in focusIndia’s election results will also be watched as the ruling BJP party lost its majority, although the wider BJP-led coalition has secured a majority
Read more »