Stock market today: At first glance, it appears that the likely landslide victory of the National Democratic Alliance (NDA) in the Bihar election 2025 has failed to cheer the Indian stock market. Trends at 11.45 am on Friday showed the NDA was leading on 185 seats and the Mahagathbandhan on 54. The trend is in line with market expectations of an NDA victory in the assembly elections. After the bumper voting turnout, most exit polls had predicted a decisive victory for the NDA.
However, the vote-count trends have failed to boost market sentiment. Equity benchmark Sensex dropped over 400 points to hit an intraday low of 84,042.75, while the Nifty 50 slipped by half a per cent to hit the 25,751.70 on the downside. In the previous session, the benchmarks had ended flat on profit booking ahead of the Bihar election results.
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Why is the Indian stock market falling?
The domestic market is falling, but it is still outperforming its global peers. Overnight, the S&P 500 crashed 1.7 per cent while the tech-heavy Nasdaq plunged 2.3 per cent.
Among Asian peers, Japan’s Nikkei crashed 1.77 per cent, Hong Kong’s Hang Seng fell by 1.5 per cent, and Korea’s Kospi nosedived 3.60 per cent.
Amid this bloodbath in major global markets, the Indian stock market’s intraday loss appears too small.
“The domestic market is actually outperforming other Asian markets today, especially considering what happened in the US market yesterday. In relative terms, this strength is a response to the better-than-expected election results. If not for the weak US cues and the poor performance of Asian markets, we would have seen a much stronger rally,” said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.
(This is a developing story. Please check back for fresh updates.)
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