Horrifying Tuesday: Nifty and Sensex plunge more than 8%

In lunchtime sessions, benchmark indexes Sensex and Nifty fell more than 8% as the opposition INDIA bloc's seat total exceeded exit poll projections.

According to the most recent statistics, the Opposition INDIA alliance has flipped all exit poll projections and is winning in at least 227 seats. The BJP-led NDA is currently at 295 and is slowly approaching the 300-mark, albeit it is up against a fierce challenge.

The Sensex fell 6219.6 points, or 8.13 percent, to 70,234.43, the intraday low. Additionally, the Nifty fell by 1982 points, or 8.52%, to 21,281.45.

The market value of companies listed on the BSE decreased by Rs 31 lakh crore, reaching Rs 395.22 lakh crore. On Monday, these companies' market capitalization increased by a record Rs 14 lakh crore to Rs 425.9 lakh crore.

Public sector company stocks were all severely damaged. The Nifty PSE and Nifty CPSE indexes fell by 18.14% and 17.27%, respectively. India VIX reached an all-time high of 29.78, rising 42.2%. On Monday, the fear index dropped by 15% to 20.94.

Of the thirty companies that make up the BSE Sensex, twenty-eight fell into negative territory. Power Grid Corporation, State Bank of India, and NTPC saw their declines of 11.76%, 13.82%, and 14.2%, respectively.

Reliance Industries' share price on the BSE dropped 7.34% to Rs 2809.2. Adani Ports decreased 21.09, Adani Power fell 15 percent, and Adani Enterprises fell 18.55 percent.