These stocks resist market bloodbath to rally up to 4% amid election outcome jitters

While HUL was the top gainer in the Nifty pack with over 4% jump, Dabur and Dmart were up over 1%. In the overall market, around 3465 stocks are trading with cuts. Around 82 stocks are locked in the upper circuit limit, while 855 names are locked in lower circuit.

Some others which are seeing a rally despite the market freefall include Data Infrastructure, Ashiana Ispat, Sanwaria Consumer, Titaanium Ten Enterprises, Icon Engineers, Soni Medicare and others.

Overall, if the NDA falls below the 300-mark, analysts expect the market to be in for more correction. Most had predicted anywhere between 350-400 seats for the Modi-led coalition.

"Following the exit poll results, the market had factored in around 350 seats for NDA and now if it falls below 300 then it would be a big disappointment for bulls," said Kranthi Bathini of .

Following the shrink, the market capitalisation of all listed companies on BSE fell over Rs 45 lakh crore to Rs 380.35 lakh crore.

From the pack, , , and alone contributed to a 2,000-point decline in the index, while L&T, SBI, Axis Bank, NTPC, and Power Grid were other stocks dragging the index downwards.

The Nifty PSU Bank index was the worst hit as it crashed over 11% with all stocks in the index seeing double-digit losses. Other PSU stocks like PFC, REC and BEL fell up to 20%.

Dalal Street's fear gauge India VIX jumped 40% to 29.79 to record its biggest single-day gain in 9 years. The flight to safety was visible as the 10-year bond yield spiked 10 bps to 7.04%.

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