The Bombay Stock Exchange (BSE) building in Mumbai. File | Photo source: REUTERS
Benchmark equity indices Sensex and Nifty plunged early in the session on Tuesday on massive profit-taking after a massive surge in the previous session as preliminary calculations as per Lok Sabha polls showed a mixed trend.
The 30-share BSE Sensex fell 1,715.78 points to 74,753 in the early session. The NSE Nifty index fell 539.1 points to 22,724.80.
Later, the BSE benchmark fell 2,623.91 points to 73,844.36 and Nifty was trading 617.45 points lower to 22,646.45.
Among the 30 Sensex companies, the biggest laggards were Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries and HDFC Bank.
The only gains were Sun Pharma and Nestle.
The BJP-led NDA on Tuesday gained ground by gaining an advantage in over 200 seats out of 350 for which trends were available, while the opposition bloc INDIA was ahead in 120, according to TV reports.
According to stock exchange data, foreign institutional investors (FIIs) bought shares worth Rs 6,850.76 crore on Monday.
On the Asian markets, the prices of Seoul, Tokyo and Shanghai fell, while Hong Kong recorded increases.
Monday on the US stock exchanges ended with mixed moods.
Global price benchmark Brent crude fell 0.68% to $77.83 a barrel.
Markets surged on Monday after exit polls predicted a huge victory for the BJP-led NDA in the Lok Sabha polls.
The BSE benchmark rose 2,507.47 points or 3.39% to hit a modern high of 76,468.78 on Monday, the biggest single-day gain in three years. During the day, the barometer jumped 2,777.58 points, or 3.75%, to a record intraday high of 76,738.89.
The NSE Nifty index rose 733.20 points or 3.25% to end at 23,263.90. It rose 808 points, or 3.58%, on the day to hit a modern all-time intraday high of 23,338.70.
