Bloodbath on Dalal Street; indices crash on lacklusture performance of BJP

Sensex crashs 4,390 points to 72,079 levels, Nifty falls to 21,885 points

Mumbai: There was a bloodbath on Dalal Street on Tuesday, June 04, as 2024 Lok Sabha election results defied exit pol trends, with PM Narendra Modi-led BJP government still below 300-seat tally as of 5:30 PM.

The S&P BSE Sensex index crashed over 6,200 points intraday, before settling 4,390 points, or 5.74 per cent, lower at 72,079 levels.

The Nifty50, meanwhile, broke the 22,000-mark to hit an intraday low of 21,281. The index ended at 21,885, down 1,379 points or 5.93 per cent.

NTPC, SBI, Power Grid, L&T, IndusInd Bank, Tata Steel, JSW Syeel, RIL, ICICI Bank, Axis Bank, Airtel, and Bajaj Finserv tumbled in the range of 6 per cent to 15 per cent.

Meanwhile, in the broader markets, the BSE MidCap, and SmallCap indices sank up to 12 per cent intraday before settling up to 8 per cent lower. 

Among sectors, the Nifty PSU Bank index plummeted 14.33 per cent, the Nifty Oil and Gas 11.3 per cent, and the Nifty Metal index 10.25 per cent.