Indian Stocks Tumble The Most Since March 2020 With Modi's Party Set To Lose Majority
Indian Stocks Tumble The Most Since March 2020 With Modi's Party Set To Lose Majority
US-based investors are expected to witness heightened volatility on Tuesday for exchange-traded funds (ETFs) tracking Indian stocks.The Indian stock market experienced its most significant daily drop since March 2020, as the coalition of current Prime Minister Narendra Modi is predicted to lose its majority in Parliament.
当前印度总理纳伦德拉·莫迪领导者的联盟预计将在议会中失去大多数席位，印度股市经历了自2020年3月以来最大的单日跌幅。
The Nifty 50 index, which comprises the 50 largest Indian companies by market capitalization, closed down by 5.9%, marking its worst performance since March 23, 2020, when it plummeted by 13%. This decline more than reversed the 3.3% gain from Monday's session.
Nifty 50 指数包括市值最大的50家印度公司，收跌5.9%，创下自2020年3月23日以来的最差表现，当时该指数下跌了13%。这次下跌逆转了周一交易日的3.3%的涨幅。
Chart: India's Major Stock Market Index Faced Worst Day Since Covid-19 Breakout
图表：印度主要的股票市场指数面临自新冠疫情爆发以来的最差表现
US-based investors are expected to witness heightened volatility on Tuesday for exchange-traded funds (ETFs) tracking Indian stocks.
跟踪印度股票的交易所交易基金 (ETF) 的美国投资者预计将在周二见证更高的波动性。
The iShares India 50 ETF (NYSE:INDY) was down more than 6.6% minutes after the U.S. market opened, while the Invesco India ETF (NYSE:PIN) fell by 6.7%.
iShares India 50 ETF (NYSE: INDY) 于美国市场开盘后不到几分钟下跌超过6.6%，而 Invesco India ETF (NYSE: PIN) 下跌6.7%。
This is the second negative reaction by emerging market assets following election results this week. On Monday, the Mexican peso and stocks saw a violent sell-off after Claudia Sheinbaum's landslide victory in the presidential elections.
这是新兴市场资产在本周选举结果后的第二次负面反应。在 Claudia Sheinbaum 于总统选举中压倒性胜利后的星期一，墨西哥比索和股票经历了暴跌。
India Now Faces Political Uncertainty
印度现在面临政治不确定性
Narendra Modi has served as Prime Minister of India since May 2014. In the previous 2019 elections, his party, the Bharatiya Janata Party (BJP), secured 37.36% of the votes, which, along with its coalition, achieved a large majority in Parliament.
纳伦德拉·莫迪自2014年5月担任印度总理。在上次2019年的选举中，他所在的印度人民党 (BJP) 获得了37.36% 的选票，与其联盟一起在议会中取得了大多数席位。
So far, the BJP coalition has obtained 239 out of 543 seats in the Lok Sabha, India's Lower House, losing 18 seats compared to the 2019 elections and falling short of the required majority of 272.
到目前为止，印度人民党联盟在洛克·萨巴 (Lok Sabha)，也就是印度下议院中获得了239个议席，比2019年选举少了18个席位，未能达到所需的272个多数席位。
Furthermore, this outcome is a significant setback for Modi, who had aimed to secure 400 seats during his campaign.
此外，这个结果对莫迪来说是一个重大挫折，他的目标是在竞选中获得400个议席。
"A Modi 3.0" will still happen, albeit with a slimmer mandate and with help from allies, according to DBS Bank Economist Radhika Rao, as reported by Bloomberg.
根据彭博社报导，星展银行经济学家 Radhika Rao 表示，“莫迪第三任”仍将发生，尽管带着更短的授权和盟友的帮助。
As reported by The Times of India, Rahul Gandhi, the face of the opposition and would-be prime minister, said the preliminary results show that India does not want Modi.
据印度时报报道，反对派和可能的总理 Rahul Gandhi 表示初步结果显示印度不需要莫迪。
"People's clear message to PM Modi and Home Minister Amit Shah is that we don't want you to run the nation," Gandhi said.
甘地表示：“人们明确向总理莫迪和内政部长阿米特·沙阿表明，我们不希望你们治理国家。”
The final Indian election results are expected to be announced on Tuesday afternoon.
最终印度选举结果预计将在周二下午宣布。
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Photo: Shutterstock
Photo: shutterstock
