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Stock Market Today: Nifty opens 1% lower on Tuesday, as Indian election results eyed

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Politics,USDINR,Equities

Nifty 50, India’s key benchmark index, opened 1% lower on Tuesday, reversing Monday’s over 3% rally.

India’s Nifty opened 1% lower on Tuesday, reversing from record highs. Early vote counting shows PM Modi-led BJP alliance leading in 300 seats out of total 543. All eyes remain onIndia’s election outcome and the June 7 RBI policy decision. Markets are witnessing a ‘sell the fact’ trading in the Indian equity markets, as they highly anticipate a stronger return of the Prime Minister Narendra Modi-led Bharatiya Janata Party alliance, now for the third straight term.

All eyes remain on the results of the 2024 India’s general election due later on Tuesday and the Reserve Bank of India’s monetary policy announcements on June 7 for fresh trading impulse. Nifty 50 FAQs What is the Nifty 50? The Nifty 50, or simply Nifty, is the most commonly followed stock index in India. It was launched in 1996 by the National Stock Exchange of India .

 

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