Markets saw a bloodbath on D-Street throughout the day as the BJP-led NDA trailed the mark of 300 seats in India’s general elections 2024. The Nifty 50 closed 1,379 points or 5.93% lower at 21,884. Similarly, the BSE Sensex plunged 4,389.73 points or 5.74% lower at 72,079. Bank Nifty slumped 4,051 points or 7.95% to 46,928.60. Adani Group companies saw a major sell-off. They were down as much as 21%. Reliance Industries, HDFC Bank, ICICI Bank, L&T, and SBI were the major movers of the Nifty 50 on June 04. The India VIX on Tuesday closed 23.64% higher at 25.89 after shooting up more than 51% on political jitters during the trading hours on June 04.

Nifty Midcap 100 tanked 4,203 points or 7.88% to settle at 49,150. Broader markets also felt the brunt with smallcap and midcap stocks closing in the red. Power Stocks were hit hard, NTPC, Power Grid, BHEL, NHPC and many others. They got quoted as low as 28% during the session. PSU remained the biggest loser on June 04. REC, PFC, Concor, BEL, and many others fell as much as 24%.

However, in the weak market, Nifty FMCG extended a helping hand and closed in the green up 519 points or 0.95% at 55,172.50.