Foreign institutional investors sold a record 124.36 billion rupees worth of Indian shares, provisional data showed on June 4.
Both the benchmark indexes dropped about 6 per cent each on concerns about policy continuity against the backdrop of Prime Narendra Modi’s alliance heading forThis was the worst session since March 2020 for both the blue-chip indexes, when markets tanked due to Covid-19 lockdown restrictions.India’s ruling Bharatiya Janata Party-led National Democratic Alliance is shown to be ahead in 292 of the total 543 seats in the lower house of the parliament.
The NDA’s seat tally, as of now, with votes still being counted, is also well below the opinion and exit poll projections, which had estimated a two-thirds majority.
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