SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Stock market crash in India after uncertain election outcome

Bombay Stock Exchange in India crashes six percent. The reason is that the sitting Prime Minister Narendra Modi does not appear to win the election as large as opinion polls had indicated.

» Updated: 16 July 2024, 15:09

» Published: 04 June 2024

Stock market crash in India after uncertain election outcome
Photo: Altaf Qadri/AP/TT

Bombay's stock exchange in India crashes six percent. The reason is that the sitting Prime Minister Narendra Modi does not appear to win the election as large as opinion polls had indicated.

At the same time, the country's currency, the rupee, falls, and interest rates rise.

The election is not yet fully counted, but so far the vote count indicates fewer seats than expected for Modi's party BJP in the lower house.

The stock market decline on Tuesday is the largest single-day decline in four years. On Monday, stock prices surged sharply after exit polls indicated a victory for BJP.

However, it still looks like BJP together with its government partners will maintain power.

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Mostly Upwards on Asian Exchanges
1 MIN READ

Mostly Upwards on Asian Exchanges

Media: Battle over Trump's Finance Minister Post
2 MIN READ

Media: Battle over Trump's Finance Minister Post

Google may be forced to sell Chrome
2 MIN READ

Google may be forced to sell Chrome

Tesla wins on the stock exchange in the USA
1 MIN READ

Tesla wins on the stock exchange in the USA

Internal Criticism: "Trying to Become the Fifth Bourgeois Party"
2 MIN READ

Internal Criticism: "Trying to Become the Fifth Bourgeois Party"

VW: In close contact with Northvolt
1 MIN READ

VW: In close contact with Northvolt

Insider conspiracy investigated – decision on prosecution imminent
2 MIN READ

Insider conspiracy investigated – decision on prosecution imminent

Viaplay's largest owner heading for the stock exchange
1 MIN READ

Viaplay's largest owner heading for the stock exchange

The Gold Price is Expected to Rise Even More
1 MIN READ

The Gold Price is Expected to Rise Even More

Ericsson CEO open to relocating headquarters to the USA
1 MIN READ

Ericsson CEO open to relocating headquarters to the USA

Reports: Shein to be listed on the stock exchange next year
1 MIN READ

Reports: Shein to be listed on the stock exchange next year

Northvolt in crisis - "Dialogue is ongoing"
3 MIN READ

Northvolt in crisis - "Dialogue is ongoing"

Better Harvests – The Price of Olive Oil May Be Halved
1 MIN READ

Better Harvests – The Price of Olive Oil May Be Halved

Tough start to the stock market week
1 MIN READ

Tough start to the stock market week

Samsung's surprise message boosts Asian stock exchanges
1 MIN READ

Samsung's surprise message boosts Asian stock exchanges

Small savers are leaving the Swedish stock exchange – this is where they're going
3 MIN READ

Small savers are leaving the Swedish stock exchange – this is where they're going

The Speaker wants to calculate the cost of Trump's tax cuts
1 MIN READ

The Speaker wants to calculate the cost of Trump's tax cuts

Ikea in Finland stands firm on criticized decision
1 MIN READ

Ikea in Finland stands firm on criticized decision

Beware of Ghost Jobs
3 MIN READ

Beware of Ghost Jobs

Ukraine wants to de-Russify its currency
1 MIN READ

Ukraine wants to de-Russify its currency