Sensex Down By Over 4,000 Points As Votes Are Counted For Lok Sabha Polls

Indian stock markets crashed by over 4,000 points today, after a sharp rally in the previous session, as early election results showed Prime Minister Narendra Modi's Bharatiya Janata Party-led alliance leading in more than 272 seats.

The Opposition bloc INDIA is leading in Jammu and Kashmir in the first Lok Sabha election since special status to was scrapped from the erstwhile state.

The counting is underway for the Lok Sabha elections 2024 to decide the electoral fate of several leaders across the political spectrum. The seven-phased voting took place in 543 Lok Sabha seats between April 19 and June 1.

The Tamil Nadu unit of the BJP is awaiting a giant leap in its voter share coupled with the highest number of Lok Sabha seats in the southern state, if the Exit Poll projections by most agencies hold true.

As of 9:45 pm, the Trinamool Congress has won 22 of the 42 seats and is leading in seven other seats in the state. The BJP has won six seats and are leading in six others. The Congress has won one seat.

The stock futures edged higher and the rupee was steady as votes in the world's largest election begin, with Prime Minister Narendra Modi widely expected to score a decisive mandate and a rare third term.