News Formal

India's Stocks Suffer Biggest Loss in 4 Years Amid Close Election

  • 📰 Newsweek
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 52%

Norge Nyheter Nyheter

Norge Siste Nytt,Norge Overskrifter

The ruling BJP party is set to win but with a reduced majority.

India's stock market lost hundreds of billions of dollars in value as shares slid after election results suggested that the incumbent Prime Minister Narendra Modi's governing Bharatiya Janata Party had performed weaker than expected.The NIFTY 50 index fell 5.9 percent on Tuesday, its poorest single-day drop in four years, a loss of nearly $390 billion, Bloomberg News reported.

The stock market fell from its record high a day prior when exit polls appeared to show BJP on course for a landslide victory.'Stepping back, equities are back to where they were in mid-March,' Shah noted.Modi is still set to serve a third term as India's leader and will preside over an economy that is forecast to continue to grow. But instituting change would now be complicated with a reduced majority, Shah pointed out.

 

Takk for kommentaren din. Kommentaren din vil bli publisert etter gjennomgang.
Vi har oppsummert denne nyheten slik at du kan lese den raskt. Er du interessert i nyhetene kan du lese hele teksten her. Les mer:

 /  🏆 468. in NO

Norge Siste Nytt, Norge Overskrifter

Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.

Stocks making the biggest moves midday: Bath & Body Works, Carnival, GameStop and moreThese are the stocks posting the largest moves in midday trading.
Kilde: CNBC - 🏆 12. / 72 Les mer »

Stocks making the biggest moves premarket: Intel, GameStop, Bath & Body Works and moreThese are the stocks posting the largest moves in premarket trading.
Kilde: CNBC - 🏆 12. / 72 Les mer »

Stocks making the biggest moves midday: GameStop, Paramount, Spotify, Krispy Kreme and moreThese are the stocks posting the largest moves in midday trading.
Kilde: CNBC - 🏆 12. / 72 Les mer »

Stocks making the biggest moves premarket: GameStop, Stericycle, MarineMax, Paramount and moreThese are some of the stocks posting the largest moves in premarket trading.
Kilde: CNBC - 🏆 12. / 72 Les mer »