Nifty 50 Drops 6% Amid Election Results; ICICI and HCL Tech Still Top Picks

The results of the 2024 Lok Sabha elections gave a mixed outcome, which surprised the Indian stock market negatively. As votes were being counted, the Sensex and Nifty 50 dropped more than six percent. The Bharatiya Janata Party (BJP) didn’t get the clear majority in the lower house of Parliament as predicted by most exit polls, causing worries among investors about consistent policies.

Investors had expected the BJP and the ruling National Democratic Alliance (NDA) to win by a large margin.


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