Latest News As India braces for the much-anticipated Lok Sabha election results on June 4, the financial markets are showing signs of unease. The Nifty, which had recently surpassed the 23,000 and 23,100 thresholds with confidence, stumbled on Tuesday, closing below 22,900. Historically, the period leading up to significant political events tends to be fraught with volatility and uncertainty.
The recent trend has been indicative of this pattern. Monday saw the Nifty cooling off by 200 points from its highs, followed by a 110-point decline on Tuesday. This sell-off, which emerged in the last 60-90 minutes of trading, suggests that investors are becoming increasingly cautious as they await the exit polls and, more crucially, the final results of the elections.
Adding to the market's anxiety is the rising Volatility Index (VIX). On Tuesday, the VIX climbed by another 4%, closing above 24. A rising VIX typically signals growing fear and uncertainty among investors, which often precedes heightened market turbulence.
In the midst of these jitters, specific stocks are set to react to their recent financial results. Aditya Birla Fashion, NBCC, and Amara Raja Batteries, which reported their earnings after market hours on Tuesday, will be closely watched. Furthermore, major companies like Tata Steel, Alkem Labs, Bata India, Cummins India, IPCA Labs, Samvardhana Motherson, Emami, and Mazagon Dock are slated to announce their results on Wednesday.
These earnings reports could provide som.