The All India Market Capitalization index, tracked on the Bombay Stock index, lost over $370 billion on June 4 alone.
India’s markets saw their worst one-day loss in about four years as the electoral performance of Prime Minister Narendra Modi’s ruling Bharatiya Janata Party fell short of expectations.
The Nifty 50 plunged 5.93% on Tuesday, while the BSE Sensex lost 5.74%, marking their largest loss since 2020.
The All India Market Capitalization index, tracked on the Bombay Stock index, lost over 31.06 trillion rupees, or about $371 billion on June 4 alone.
The losses on Tuesday meant the Sensex index erased all its gains this year in a single day, going from a 5.85% year-to-date gain on Monday to a 0.22% loss position.
Meanwhile, the Nifty 50 saw its 7% year-to-date gain as of Monday drop to a meager 0.
