Election Results 2024: Sensex, Nifty See Marginal Recovery Amid High Volatility

Stock Market Today News | Sensex, Nifty Live Updates

As the counting of votes for the 2024 Lok Sabha Elections progresses, the Indian stock markets have experienced significant volatility. On Tuesday, the benchmark indices S&P BSE Sensex and NSE Nifty50 opened in negative territory following a record-breaking session on Monday. The initial market optimism driven by exit polls predicting a decisive victory for the BJP and Prime Minister Narendra Modi has been replaced by uncertainty as early results indicate a closer contest between the NDA and the India alliance.

Market Reaction to Election Results

The Sensex and Nifty saw dramatic swings throughout the day. In early trade, the Sensex plummeted by 6,000 points, while the Nifty dropped over 1,000 points. By the afternoon, there was a slight recovery; the Sensex was down by 3,372.15 points, trading at 73,096.63, and the Nifty50 was 1,053.50 points lower at 22,210.40. This recovery, albeit marginal, indicates ongoing investor apprehension as the election results unfold.

Sector-Specific Impact

Banking stocks were among the hardest hit, with the Bank Nifty falling by over 300 points. PSU banks and Adani group stocks led the decline, reflecting the broader market’s nervousness. Conversely, select defensive stocks saw buying interest as investors sought safer bets amid the market turbulence.

Volatility Index Surge

Reflecting the heightened market anxiety, the India VIX surged by 30.71%, reaching 27.38. This sharp increase in the volatility index underscores the market’s jitteriness as investors react to the evolving political landscape.

Exit Poll Influence and Real-Time Results

On Monday, both the Sensex and Nifty hit all-time highs, buoyed by exit poll results suggesting a BJP victory. However, the actual vote count showing a tighter race between the NDA and India alliance has led to a swift reversal in market sentiment. According to trends from India Today, the NDA is leading with 294 seats, while the INDIA alliance is at 230 seats. News 18 reports similar numbers, with the NDA ahead in 296 seats and the INDIA alliance trailing with 229 seats.


The ongoing Lok Sabha election results are poised to significantly impact the market’s direction. While initial optimism led to record highs, the closer-than-expected race has introduced substantial volatility. Investors are advised to stay tuned to real-time updates, as the final results could lead to further market shifts. Despite the day’s recovery from its lows, the market remains under pressure, reflecting the uncertainty surrounding the election outcome.

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