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New Delhi: As vote counting progresses for the 2024 Lok Sabha elections, the Bharatiya Janata Party (BJP)-led NDA is currently leading with 294 seats, while the opposition’s INDIA bloc holds an edge over 228 seats. This comes as a surprise as most exit polls had forecast fewer than 180 seats for the INDIA bloc.
The elections, which spanned 543 constituencies, began on April 19 and wrapped up on June 1 over seven phases. Initial results indicate a potential deviation from the predictions of a dominant NDA victory as suggested by major exit polls post the final phase on June 1.
According to exit polls, the BJP was projected to surpass its 2019 count of 303 seats with predictions like the India-Today-My Axis and Today’s Chanakya polls estimating NDA’s tally to exceed 400 seats. Other polls such as ABP-CVoter and Jan Ki Baat anticipated a BJP sweep with 353-383 and 362-392 seats respectively.
In parallel to the election count, the Indian stock markets experienced a drastic downturn, erasing nearly ₹38 lakh crore of investor wealth in a single day. The BSE’s total market capitalisation dropped sharply to around ₹388 lakh crore by midday, compared to ₹426 lakh crore at the close of the previous session, reflecting investor anxiety over the closer-than-expected election results.
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