India’s markets witnessed their worst single-day loss in four years following the Bharatiya Janata Party’s (BJP) electoral performance, which fell short of expectations. The Nifty 50 plunged 5.93% and the BSE Sensex lost 5.74% on Tuesday, erasing their year-to-date gains. The Bombay Stock Exchange’s All India Market Capitalization index dropped by over 31.06 trillion rupees ($371 billion). Despite the BJP-led National Democratic Alliance (NDA) securing a parliamentary majority with 294 seats, the BJP lost its single-party majority, winning only 240 seats. Analysts warn that a weaker mandate may complicate policy reforms, though macro stability is expected to remain intact.
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