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.
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 BJP-led National Democratic Alliance (NDA) coalition, however, clinched 294 seats, managing to retain the parliamentary majority, crossing the 272 required to form the government.
In the previous general election in 2019, the BJP secured 303 seats, and the NDA won 353 seats.
A Goldman Sachs report issued early Wednesday said that "even with a reduced majority, we don't think macro stability will be compromised."
Persons:
Narendra Modi's, Modi, Goldman Sachs, —
Organizations:
Bombay Stock Exchange, Bombay, BSE, Bharatiya Janata Party, BJP, National Democratic Alliance, Developmental Inclusive Alliance coalition, Indian National Congress, Goldman
Locations:
Bombay, Mumbai, India, INDIA, Lok