Indian financial markets sell off sharply as early vote counting trends suggest BJP-led alliance unlikely to win an overwhelming majority as predicted by exit polls.
Profit booking seen as investors wait for more clarity on NDA's total number of seats. Markets had surged to all-time highs on Monday based on exit polls' projections.
Nifty and BSE indexes drop significantly, but show slight recovery. Rupee weakens against the dollar. Early trends may lead to extended profit booking.
Market drop expected to be short-term if BJP/NDA secures 272 seats. Indexes had grown over threefold since Modi took office in 2014.
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