Sensex crashes to 600.51 points as results indicate Congress leading

Mumbai: The ongoing results for the much awaited Gujarat Assembly elections indicate Congress leading in 86 seats while BJP in 74 constituencies.

The market benchmarks BSE index Sensex and NSE index Nifty both reportedly crashed by nearly 867.34 pts to 32,595.63, Nifty dropped by 258.45 pts to 10,074.80 reports said after the assembly results indicate Congress leading the poll results.

“Rupee also tumbles 68 paise to 64.72 against the dollar,” the reports added.

At 9.20 a.m., the 30-share BSE index Sensex was down 477.70 points or 1.43 percent at 32,985.27 and the 50-share NSE index Nifty was down 156.30 points or 1.51 percent at 10,176.95.

It is a neck to neck competition between the two leading parties Congress and BJP in the Gujarat Elections.

The much-awaited results of the assembly elections in Himachal Pradesh and Gujarat will be out today and the counting of votes has now already started in the two states amid tight security shows BJP in a tight position, sources said.