New Delhi: On the eve of the Lok Sabha Election Results 2024, the stock market benchmark indices Sensex and Nifty opened in red on Tuesday, June 04, 2024. Some of the stocks that fell the most are Adani Enterprises, Adani Ports, Adani Green, NDTV, IRCTC, SBI, etc. These are some of the big names that had given handsome returns in past six months in run up to the general elections. Stock market experts had warned investors earlier that all the hype about Modi returning to power was already absorbed in the market. On Monday, June 03, 2024, the equity benchmark indices Sensex and Nifty rallied more than three per cent in anticipation of Modi returning to power on the counting day. All these news were already absorbed in the market, thus, it created room for profit booking. In the opening trade on the counting day, Sensex fell more than two per cent and opened at 74,878 points. While, broader market index, Nifty, plunged around 2.50 per cent and opened at 23,179 points.
Adani Stocks Bleed:
Adani Enterprises plunged more than eight per cent and hit lower circuit at Rs 3,280 on the BSE.
Adani Ports plunges in excess of seven per cent:
Adani Group’s logistic player Adani Ports plunged more than seven per cent and opened at Rs 1,576 on the BSE on Tuesday.
NDTV down nine per cent:
Another Adani Group stock NDTV fell around nine per cent in opening trade on Tuesday and opened with gap down at Rs 259 on the BSE.
Nifty PSU Bank Index tanks:
Some of the top losers amongst the PSU Banks were SBI, PNB CBI, Indian Bank, BOB, Union Bank, Canara Bank. The Nifty PSU Bank index fell the most amongst all the major indices. The 12 constituent index fell in excess of five per cent on Tuesday.
SBI down five per cent:
The SBI tanked around five per cent and opened at Rs 905 apiece on the BSE. All the 12 PSU bank stocks opened in red on Tuesday.
IRCTC plunges four per cent:
PSU stock IRCTC also plunged around four per cent and opened at Rs 1,015 on the BSE on Tuesday.
Stock Market down today: Most of the top losers were big names like Adani stocks, PSU Bank stocks, IRCTC, GAIL, Power Grid, etc. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
