THESE Stocks saw an over 10% decline on June 4; Adani enterprises drops to 18 per cent

The Lok Sabha elections 2024 counting day (June 4) saw a steep decline in BSE Sensex and NSE Nifty charts. This was due to a wider margin in results than was predicted by the exit polls. As it stands, NDA, the ruling party leads in 294 seats while the opposition INDIA bloc leads on 230. As such several prominent stocks took a steep nosedive in their share prices. Here are some stocks that recorded a decline of over 10 percent on June 4.

Most of these stocks recorded their lowest point at around 12:30 to 12:40 pm. As per 1 pm, these stocks stand at an over 10 percent decline on the stock market:

• Adani enterprises: Rs 2,958 (18.65%)
• IRB infrastructure developers: Rs 64.70 (11.13%)
• Suraj estate: Rs 64.70 (16.32%)
• Tata Power: Rs 328.70 (11.79%)
• Punjab National Bank (PNB): Rs 114.60 (16.35%)
• Punjab and Sind Bank: Rs 56.05 (13.90%)
• Indian Railway Finance Corp (IRFC): Rs 169.55 (11.19%)
• Tata Steel: Rs 156.05 (10.44%)
• Gujarat Mineral Development Corporation: Rs 346.75 (14.61%)

Defence Shares all tumble by more than 10 per cent

Amidst the elections, shares of defence companies tumbled by over 10 percent due to the counting trends indicated that the ruling NDA might secure fewer seats than anticipated0 in the Lok Sabha elections. Shares of Bharat Electronics Ltd (BEL) plunged over 19.36 per cent, Hindustan Aeronautics fell over 14.29 per cent to ₹260.45 per share. In comparison, Bharat Dynamics shares declined by 10 per cent and Cochin Shipyard shares experienced a nearly 9% dip.