Share Market Highlights June 04, 2024: Sensex, Nifty settle 6% lower on election results day; PSU stocks drag; Adani Ports, Adani Enterprises emerge as top losers

Sensex, Nifty updates on June 04, 2024: Benchmark indices, Sensex and Nifty, which had dropped eight per cent earlier in the day, have trimmed their losses to 6 per cent in afternoon trade. At 3.30 pm on Tuesday, ​BSE Sensex​ tanked 4389.73 pts or 5.74% to close at 72,079.05, and ​Nifty 50​ ended at 21,884.50, lower by 1,379.40 or 5.93%. Against expectations of a major surge, Sensex and Nifty have tumbled as the vote count has proved exit poll predictions for a big NDA win to be wrong. Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said: “The steep fall is due to the results so far falling short of the exit polls, which the market had discounted yesterday. If BJP doesn’t get a majority on its own, there will be disappointment and this is getting reflected in the market. Also, it is possible that Modi 3.0 may not be as reform-oriented as the market expected and may turn more welfare- riented. This is getting reflected in the strength in FMCG stocks.”