Share Market crashed Sensex, Nifty, Nifty Bank faced sharp fall

Stock Market crashed today, due to the unexpected election results over the Exit Poll Predictions yesterday.

Sharp fall: Both the Sensex and Nifty 50 witnessed a steep fall, with the Sensex closed at 72,079.05 and the Nifty 50 closed at 21,884.50. A big down fall in single day.

The India VIX index, which measures market volatility, soared over 40%, indicating heightened investor anxiety.

Major Sectors faced losses, FMCG stocks showed some resilience and even gained amid the market crash.

Main Reasons of Stock Market Crash:

The market’s negative reaction is primarily attributed to the uncertainty surrounding the election outcome and its potential impact on government stability and policy implementation.

Even The Exit Pole Prediction on 3rd June 2024 also played a significant role in decline.

Nifty Bank movement today:

Today BANKNIFTY opened at 50667.05 and experienced a sharp decline, hitting a low of 46077.85 during the day.

Today Closing: Nifty Bank is closed at 46928.60 (4th June 2024). The overall drop was over 7.95% compared to the opening price.

Source: NSE and BSE

 

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