The decline in the Indian stock market has been seen in spite of positive election results of five state for the BJP. The 30-share BSE index Sensex fell 305 points at 25400 and the NSE 50-share Nifty index fell 87 points to closed at 7783. Due to this decline investors have lost 1.15 lakh crore.
Stock Market Updates Today:
Market experts believe that the election results are not the mail reason of today’s fall in stock market. In fact equity market should have pick up because of BJP’s victory in Assam and better than expected results in West Bengal, Tamil Nadu and Kerala. Because the BJP is considered better for the market sentiment in most of the economic reforms. The minutes of the Federal Reserve and the SEBI’s decision on P-Notes were impact the market trend today more then election results.
All the market sectors are down today. Banking, auto, metal and media index closed by dropping up to two per cent. While PSU Bank index has closed at 2192 down by 4 per cent.
This fall would not make too much difference, but the edge of the BJP will definitely improve the market sentiments. But in terms of the number parliament is not going to face any dramatic change. These results will strength the government to pursue the reform process.