On the day of the Lok Sabha election results, Zerodha’s Kite app experienced a remarkable influx of activity. According to a chart shared by the brokerage firm’s co-founder and CEO, Nithin Kamath, over Rs 8,000 crore in funds were added to the app. The chart also revealed that 34.5 million orders were placed, more than 8 million logins were made, and over 1 million GTTs were triggered.
However, the anticipation and uncertainty surrounding the counting day led to significant market volatility. Indian indices witnessed their biggest fall in four years, resulting in investors losing approximately Rs 30 lakh crore. As the counting entered its final phase, Sensex plunged by 4,389 points (5.74%), settling at 72,079, while Nifty declined by 1,379 points (5.93%) to end at 21,884. Nifty Bank also suffered a steep loss of 4,051 points (7.95%), closing at 46,928.
