India’s Nifty 50 slides nearly 4% as early vote counting signals slim Modi win
Investing.com-- Indian stocks fell sharply from record highs on Tuesday, reversing a bulk of their gains from the previous session as early vote counting in the closely-watched 2024 general election presented a less sweeping win for the BJP than expected.Both indexes had rallied over 3% on Monday after exit polls released over the weekend presented a sweeping victory for the BJP-led NDA alliance in the 2024 elections.
As of 9:27 AM IST , early counting showed that of the 311 constituencies that had declared votes, the BJP appeared poised to win 153 seats in India’s Lower House, while the Indian National Congress, the main opposition party, was set to win 61 seats. Investors have so far welcomed the BJP’s pro-business policies over the past decade, although the party’s rhetoric towards certain minorities in India has drawn heavy criticism.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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