India VIX, which measures volatility of India’s stock market zoomed over 40 per cent on the counting day of the Lok Sabha Election Results 2024. At the strat of the counting, Narendra Modi-led NDA gained initial leads but later on faced intense competition from INDIA Alliance, which is what caused bloodbath on the Dalal Street. The benchmark stock market indices Sensex nosedived over 3,700 points and dipped below 72,700 levels, while, the 50 constituent Nifty plunged over 1,100 points and dipped to as low as 22,100 levels.
Among the 30 Sensex companies, State Bank of India tanked over 15 per cent, while PSU power stocks like Power Grid and NTPC plunged nearly 10 per cent. L&T, Axis Bank, Tata Steel and Reliance Industries were the other big laggards.
The Nifty PSE index nosedived 18 per cent. While, Nifty PSU Bank index saw the second largest plunge on Tuesday, June 04, 2024. Nifty Next 50 also broke in excess of 12 per cent.
Whereas, BSE MidCap fell almost nine per cent and BSE SmallCap dipped more than seven per cent.
BSE Bharat 22 Index which constitutes PSU stocks plunged more than 12 per cent.
Earlier, markets had jumped sharply on Monday after exit poll results were out. Both the benchmark indices were up in excess of three per cent.
The BSE benchmark had soared by more than 2,500 points and settled above 76,400 points on Monday. The NSE Nifty climbed more than 700 points to finish bove 23,000 levels.
Movements in VIX India today reflected sharp volatility in India’s stock market. The benchmark stock market index Sensex nosedived over 5,000 points and dipped below 72,000 levels, while, the 50 constituent Nifty plunged over 2,700 points and dipped below 21,600 levels after making respective highs just a day before. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
