A woman walks past the offices of the Bombay Stock Exchange (BSE) in Mumbai, India, on July 18, 2022.
Noor Photos | Noor Photos | Getty Images
Indian shares tumbled on Tuesday, leading Asian stocks lower as the country began counting votes for the 2024 general election.
Counting began at 8 a.m. local time in the world’s most populous country, with Prime Minister Narendra Modi expected to win a rare third consecutive term, according to exit polls.
The Nifty 50 fell 3.5% and the BSE Sensex fell 1.5% after India’s main stock indexes hit a record high on Monday.
Over the weekend, local exit polls showed Modi and his Bharatiya Janata Party-led alliance winning a decisive majority in the lower house of parliament.
Japan’s Nikkei 225 Index It fell 0.22%, while the broader Topix fell 0.24%.
Korean Cospi The Kosdaq fell 0.47%, with the small-cap Kosdaq reversing early losses and rising 0.8%.
Hong Kong’s Hang Seng Index rose slightly by 0.31%, and the CSI 300 Index rose by 0.4%.
In Australia, S&P/ASX 200 Index The index fell 0.19%.
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