270 Stocks Stay Strong Amid Market Crash Due to Election Jitters

Despite a market crash triggered by initial election results, around 270 stocks, including Hindustan Unilever (HUL), Dabur, DMart, and Marico, managed to resist the negative trend.

Early election trends indicated that the NDA is likely to form the government for a third term but may not secure a strong majority of over 400 seats. This uncertainty caused major indices Sensex and Nifty to drop over 7%, marking the biggest intraday fall in over two years.


HUL led the gains in the Nifty pack with a rise of over 4%, while Dabur and DMart went up by over 1%. In contrast, approximately 3,465 stocks were trading with losses. Meanwhile, 82 stocks hit their upper circuit limits, and 855 stocks were locked in their lower circuit limits.

Other stocks that saw gains despite the market drop included Data Infrastructure, Ashiana Ispat, Sanwaria Consumer, Titaanium Ten Enterprises, and Icon Engineers.

Analysts predict more market corrections if the NDA fails to secure at least 300 seats. Most exit polls had estimated between 350-400 seats for the Modi-led coalition. “The market expected around 350 seats for the NDA. Falling below 300 would disappoint the bulls,” said Kranthi Bathini of WealthMills Securities.

The market cap of all listed companies on BSE fell by over Rs 45 lakh crore to Rs 380.35 lakh crore. Major contributors to the Sensex decline included Reliance Industries, HDFC Bank, and ICICI Bank, leading to a 2,000-point drop. Other significant drags were L&T, SBI, Axis Bank, NTPC, and Power Grid.

The Nifty PSU Bank index was hit the hardest, crashing over 11% with all its stocks seeing double-digit losses. Other PSU stocks like PFC, REC, and BEL dropped up to 20%.

Dalal Street’s fear gauge, India VIX, jumped 40% to 29.79, recording its biggest single-day gain in nine years. Investors moved to safer assets, causing the 10-year bond yield to spike by 10 basis points to 7.04%.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

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