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.
當前印度總理納倫德拉·莫迪領導者的聯盟預計將在議會中失去大多數席位，印度股市經歷了自2020年3月以來最大的單日跌幅。
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 指數包括市值最大的50家印度公司，收跌5.9%，創下自2020年3月23日以來的最差表現，當時該指數下跌了13%。這次下跌逆轉了週一交易日的3.3%的漲幅。
Chart: India's Major Stock Market Index Faced Worst Day Since Covid-19 Breakout
圖表：印度主要的股票市場指數面臨自新冠疫情爆發以來的最差表現
US-based investors are expected to witness heightened volatility on Tuesday for exchange-traded funds (ETFs) tracking Indian stocks.
跟蹤印度股票的交易所交易基金 (ETF) 的美國投資者預計將在週二見證更高的波動性。
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) 於美國市場開盤後不到幾分鐘下跌超過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.
這是新興市場資產在本週選舉結果後的第二次負面反應。在 Claudia Sheinbaum 於總統選舉中壓倒性勝利後的星期一，墨西哥披索和股票經歷了暴跌。
India Now Faces Political Uncertainty
印度現在面臨政治不確定性
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.
納倫德拉·莫迪自2014年5月擔任印度總理。在上次2019年的選舉中，他所在的印度人民黨 (BJP) 獲得了37.36% 的選票，與其聯盟一起在議會中取得了大多數席位。
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.
到目前爲止，印度人民黨聯盟在洛克·薩巴 (Lok Sabha)，也就是印度下議院中獲得了239個議席，比2019年選舉少了18個席位，未能達到所需的272個多數席位。
Furthermore, this outcome is a significant setback for Modi, who had aimed to secure 400 seats during his campaign.
此外，這個結果對莫迪來說是一個重大挫折，他的目標是在競選中獲得400個議席。
"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.
根據彭博社報導，星展銀行經濟學家 Radhika Rao 表示，“莫迪第三任”仍將發生，儘管帶着更短的授權和盟友的幫助。
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.
據印度時報報道，反對派和可能的總理 Rahul Gandhi 表示初步結果顯示印度不需要莫迪。
"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：“人們明確向總理莫迪和內政部長阿米特·沙阿表明，我們不希望你們治理國家。”
The final Indian election results are expected to be announced on Tuesday afternoon.
最終印度選舉結果預計將在週二下午宣佈。
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Photo: Shutterstock
Photo: shutterstock
