5 months ago
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Indian stocks have fallen sharply after vote counting in the country’s general election indicated Prime Minister Narendra Modi’s party might not be able to form a majority government.
The benchmark NSE Nifty 50 share index closed down nearly 6 percent, its steepest fall since India’s first Covid lockdowns in March 2020.
Early results suggest Mr Modi’s political party may need to rely on allies and form a coalition government.
Some analysts say that could lead to uncertainty over economic policies.
The NSE Nifty 50, which comprises stocks in various big companies, had plunged 8-point-5 percent at one point but ended the day down 5-point-9 percent at 21-thousand 8-hundred and 84-point-5 points.
The S&P BSE Sensex also fell sharply, closing 5-point-7 percent lower at 72-thousand and 79-point-05.
The rupee slid 0-point-5 percent against the US dollar, its biggest fall in 16 months.
English (US) ·