Indian stocks plummeted as early election results indicated that Prime Minister Narendra Modi’s party might not secure a majority government.

The NSE Nifty 50 index saw its sharpest drop since the onset of the Covid-19 pandemic, closing down nearly 6%.

This uncertainty over the formation of a coalition government led to concerns among analysts about potential economic policy changes.

The BJP’s reliance on allies could shift the focus away from investment towards welfare initiatives.

Despite expectations of a BJP victory based on exit polls, the party may fall short of a single-party majority.

This news led to significant losses in key Indian stock indexes, including notable declines in individual stocks like Reliance Industries and Bank of India.

Credit : BBC

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