Mumbai, June 4 :The stock market witnessed a significant downturn on Tuesday as early trends from the Lok Sabha elections counting day led to a sharp decline in both the Sensex and Nifty indices.
The Sensex plummeted by over 1,500 points, marking a 2.02% decrease, opening at 74,924.64. Similarly, the Nifty witnessed a decline of 491.10 points, or 2.11%, opening at 22,772.80.
Amidst this volatility, market dynamics showcased a mixed trend, with 891 shares advancing, 1,572 shares declining, and 121 shares remaining unchanged.
Market analysts cautioned investors against hasty decisions, advising prudence even in the wake of confirming Exit Poll predictions.
"Maintaining investments in large-cap stocks is advisable, while considering profit booking in small-cap investments," they suggested.
The previous day saw an impressive surge in the stock market, with gains amounting to over Rs 12 lakh crore, equivalent to 3.25%.
Monday's soaring market performance was largely attributed to Exit Polls predicting a resounding victory for the NDA government, propelling the Sensex and Nifty to record highs. However, the contrasting early trends on counting day signal a period of uncertainty and caution for investors.
