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Sensex, Nifty nosedive as initial trends predict lesser seats for BJP than exit polls prediction

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Benchmark equity indices Sensex and Nifty experienced a drastic drop of over 8% on Tuesday due to the BJP winning fewer seats than expected in the exit polls. Several major companies, including State Bank of India and Power Grid, saw significant declines in their stock prices. Early results suggest that the BJP-led NDA may face heavy losses in key states, although it is still expected to form the government with around 290 seats. Foreign Institutional Investors purchased equities worth Rs 6,850.76 crore on Monday. Asian markets were mostly down, while US markets closed mixed.

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