Sensex, Nifty end in red after hitting record highs on Modi's thumping victory
Indian markets closed in red for first time on an election result day since 2004 results, on Thursday, after BSE Sensex and NSE Nifty touched historic 40,000 and 12,000 marks respectively in the early morning trade, as the markets cheered the return of Narendra Modi-led National Democratic Alliance government, in euphoria.
On the day, when exit polls predicted a full majority to the Modi led NDA, the markets had gained up to 4%. The BSE Sensex and NSE Nifty marked their second best performance ever. The markets also touched respective record highs.
03:1223 May 2019
Market Permutations
“Even in case of the NDA with a slender margin, markets will do well. NDA without Modi, there will be no impact as markets want a stable government,” according to Rahul Shah of Motilal Oswal.