There is a crash in the stock market due to the inability of NDA to fulfill the elusive “400 par,” as
exit polls. Our current prime minister Mr. Narendra Modi gave a statement that “abki baar 400
par” during the election. The Modi alliance hasn’t won to that great extent. The top business
man suffered a lot of loss on that day, when Sensex and Nifty recorded its worst performance.
This type of worst performance was also recorded in 2008.
Market analysts predicted a market bounce for an array variety of companies that were dubbed
“Modi stocks” before the election results. With the starting of vote counting or exit pole, Sensex
looses 6000 points, while Nifty looses 2000 points approximately. Contradictory, PM Modi and
Home minister Jay shah, predicted the the high peak in the share market.
Most of the investor lost their 30 lakhs crore in this share market crash on single day, as most of
the companies trade in red. The few FMCG like Hindustan Unilever, Nestle India, and Britannia
are exception. Lots of share market analyst predict the recovery of the shares invested.
The Nifty fell 5.93%, causing a carnage on Dalal Street. Sensex and Bank nifty also suffer a
great downfall. According to Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, A
lead or win for NDA in lok sabha election 2024, gave a big disappointement for the share market
investor.
NTPC, Coal India, ONGC don’t have the ability to withstand with this market collapse and were
included in the “Modi stocks” group. In addition, the volatility index increased by more than 40%
to hit a 52-week high of 31.71.
