Indian stocks have fallen sharply after vote counting in the country's general election, BBC reported.
The benchmark NSE Nifty 50 share index closed down nearly 6 per cent, its steepest fall since India's first Covid lockdowns in March 2020.
Early results suggest Modi's political party may need to rely on allies and form a coalition government.
That could lead to uncertainty over economic policies, some analysts said.
The NSE Nifty 50, which comprises stocks in various big companies, had plunged 8.5 per cent at one point but ended the day down 5.9 per cent at 21,884.5 points.
The S&P BSE Sensex also fell sharply, closing 5.7 per cent lower at 72,079.05.
The rupee slid 0.5 per cent against the US dollar, its biggest fall in 16 months.
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