BSE PSU Index declines 6% amid election outcome uncertainty. SBI, Cochin Shipyard among top losers

Railway stocks like , and also witnessed a dip of more than 7%.

As per early estimates, was ahead on 303 seats, while INDIA alliance was leading on 219 seats and others were showing lead on 21 seats.

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Earlier, after the 7th phase of elections on Saturday, almost all exit poll surveys showed that the BJP is likely to win the election on June 4th. The average of all major indicates that the BJP-led NDA will secure 374 seats in this election, while the INDIA alliance may get 137 seats and others may get 30 seats.

Today's Chanakya survey suggests that the NDA could reach 400 seats, while India Today-Axis predicts 361-401 seats, and India TV-CNX forecasts 371-401 seats. News Nation and TV 9 Bharatvarsh-Polstrat, which give the least seats to the NDA, still predict 342 seats, well above the majority threshold of 272 seats.

During Modi 2.0 (from June 2019 to May 2024), 10 out of 12 PSU bank stocks delivered multibagger returns of up to 473%.

Recently, a CLSA report suggested ONGC, NTPC, NHPC, SBI, Power Finance, IGL, and Mahanagar Gas as attractive picks in the PSU space. Further, under Modi 3.0 government, Manish Sonthalia, Chief Investment Officer, Emkay Investment Managers expects BFSI to do well along with PSUs and industrials, while Quant Mutual Fund Chief Investment Officer (CIO) feels Modi coming back at the helm could be the endorsements of the policies of the previous government, which means that infra, manufacturing and PSU as a theme will continue.

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