Stock market ends in deep red on Lok Sabha elections result day
As soon as the counting of votes for the Lok Sabha elections started, there was a stampede in the stock market today. Sensex and Nifty fell by 5 percent. At 12:55 pm, Nifty 50 fell by 5.52 percent to reach 21,980.55 points. Similarly, Sensex started trading at 72,143.27 with a fall of 5.66 percent. Today, the railway stocks which were flying high for a long time also came under the grip of this massacre in the stock market.
Shares of IRCON International, IRFC, Titagarh Railway Systems, Rail Vikas Nigam Limited and IRCTC have fallen by 10 percent to 19 percent. As soon as the market opened, selling started in these shares and seeing the trends of election results showing that the BJP-led NDA alliance would get fewer seats than expected, there was a stampede among the investors.
Titagarh Rail Systems share fell 18 percent
This railway stock opened with a fall at Rs 1486.05 today. Intraday it fell by about 20 percent to Rs 1194. At 1:05 pm, Titagarh Rail Systems share was trading at Rs 1218.95 with a fall of 18.34 percent.
Sharp fall in IRCON International
IRCON International share was also trading at Rs 248.05 with a fall of 13.57 percent. Intraday this railway stock went up to Rs 229.60 today. In one year, IRCON share has given a profit of 209 percent.
RVNL also got a big blow
Rail Vikas Nigam Limited share also suffered a sharp fall today. This railway stock, which opened with weakness, went down to a low of Rs 323.65 in intraday today. At the time of writing the news, RVNL stock was trading at Rs 355.75 on NSE, down 12.06 percent.
RRFC also fell sharply
On the day of the Lok Sabha election results, the stock of Indian Railway Finance Corp Ltd also fell sharply. In today’s trading, it once went down to the low of Rs 151.20. Later it recovered and at the time of writing the news, it was trading at Rs 169.45, down 10.56 percent.
