Markets were in turmoil on Tuesday as Nifty fell 5.93% to 21,884.50, recording its biggest fall in 4 years as BJP struggled to get a clear mandate despite the NDA coalition going past the halfway mark.

Leading the pack of gainers in the Nifty 50 is Hindustan Unilever, India’s largest FMCG firm, with a 5.96% surge. This follows a decent performance over the past few weeks, with a 6% rise in the last 30 days.

Top Gainers

Following closely are Nestle India and Britannia with gains of 3.08% and 3.04% respectively. Hero MotoCorp and Tata Consumer Products also made it to the top gainers list with an increase of 2.90% and 1.67% respectively.

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On the flip side, the Adani Group companies, which saw a meteoric rise on Monday, are now facing heavy losses. Adani Ports and Adani Enterprises are leading the pack of losers with a decline of 21.15% and 19.31% respectively.

Top Losers

Other significant losers include ONGC with a 16.83% drop, NTPC with a 15.45% fall, and SBIN with a 14.40% decline.

Talking about the results, brokerage firm Emkay Global said, “India's general elections threw up a negative surprise, with the ruling NDA set to return albeit with a reduced majority, and the BJP well short of a majority.”

The brokerage said that the index at 21,000 currently is still expensive but if it falls another 10% to dip below 20,000 then it becomes attractive.

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