Indian Stocks Tumble The Most Since March 2020 With Modi's Party Set To Lose Majority
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 04 2024
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Source: Business Insider
- Indian Stock Market Decline: Indian stock market faced significant drop, worst since March 2020, due to predicted loss of majority by PM Modi's coalition in Parliament.
- US Investors' Volatility: US-based investors expected heightened volatility for ETFs tracking Indian stocks following the market decline.
- Emerging Market Reaction: Second negative reaction seen in emerging market assets after Mexican election results.
- Political Uncertainty in India: BJP coalition falls short of majority in Lok Sabha, a setback for PM Modi aiming for 400 seats.
- Opposition's Message: Rahul Gandhi states preliminary results show India does not want Modi to run the nation.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
