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India shares plunge on concerns of a narrower win for India’s Modi

June 4, 2024

Indian stocks have suffered their worst intraday fall since March 2020 and foreign investors sold the most on record, as vote-counting trends in the general election suggested Prime Minister Narendra Modi’s alliance was unlikely to win the overwhelming majority predicted by exit polls. With over half the votes counted on Tuesday, Modi’s Bharatiya Janata Party (BJP) looked unlikely to secure a majority on its own in the 543-member...

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