Indian stock markets plummeted today following a sharp rally in the previous session.
Early vote-counting trends showed Prime Minister Narendra Modi's Bharatiya Janata Party-led alliance leading in over 272 seats, though the extent of their victory remains unclear.
As of 9:30 am, the NSE Nifty 50 index had dropped 3.03 percent to 22,557, and the S&P BSE Sensex had fallen 3 percent to 74,107.
The benchmarks had surged over 3 percent on Monday, reaching record highs and experiencing their best session in nearly 40 months after exit polls suggested that the BJP-led alliance could secure a two-thirds majority in the lower house.
Early trends now indicate the NDA is leading with 288 seats, while the INDIA bloc is ahead in 213 seats.
The biggest laggards on the 30-company Sensex were State Bank of India, Reliance, Larsen & Toubro, Power Grid, NTPC, and HDFC Bank. Sun Pharma and Nestle were the only gainers.
Foreign Institutional Investors (FIIs) bought equities worth Rs 6,850.76 crore on Monday, according to exchange data.
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