Equity mutual funds meltdown: The biggest losers on the day of Lok Sabha election results
All equity-oriented mutual fund categories were battered on June 4 after it became clear that the BJP won't go past the majority mark on its own and would be heavily dependent on support from allies, with investors being jittery about the stability of the government and 'compulsions' that a coalition regime might face. However, experts advise investors not to be swayed by short-term gyrations and focus on long-term investment goals instead.
The Indian stock market crashed on June 4 with the benchmark indices experiencing their sharpest single-day fall since March 2020, as investors turned jittery after the BJP failed to secure a majority on its own in the Lok Sabha election 2024. The Sensex closed 5.7 percent down, while the Nifty plunged 5.9 percent. Mid and small-cap indices, too, tanked. The Nifty midcap 150 and Nifty smallcap 250 ended 7.1 percent and 7.5 percent down. Equity mutual funds followed suit. While experts advise investors not to be swayed by short-term gyrations and focus on long-term goals, here’s a list of schemes in the major equity categories which saw the sharpest one-day fall on June 4:
