Saturday, 8 June 2024, Bengaluru, India
The Indian stock markets crashed on Tuesday following the general elections, leading to a price crash in the Indian startup ecosystem. The BSE Sensex dropped by 5.80% after the general election results showed that the BJP had to depend on allies to form a government. But the stock market is now back with a gain of 3 percent, followed by the news of PM Narendra Modi’s return for a third term.
Indian startups saw gains on Friday after the stock market gained a 3.36 percent increase. The BSE Sensex increased and reached 76,795.31. The Sensex increased by 3.69 percent on Friday and closed at 76,693.36, while Nifty increased by 3.37 percent. The losses in the stock market recovered almost in three trading sessions, at Rs 28 lakh crore. Delhivery, a platform that helps individuals connect over services to track their package across India, reported a loss of 6.26 percent last week following the elections. This is India’s largest fully integrated logistic provider, offering top-class services to its clients and customers.
Stock prices for all Indian startups fell into the negative zone last week. They are said to be recovering following this market gain on Friday. The future and impact of the Indian startup ecosystem will again change following the new government. Many Indian startups got access to various government policies to help startups and went unicorn this year. Lewis is one of those startups that went public this year and recorded a gain in the stock market.
128 deals were made last month, generating the highest funding influx for this year so far. Many startups, including Ola Electric, Mobikwok, and FirstCry, are planning to debut on the stock market exchange this year. Indian startups had the highest investment for 2024 in May, with the highest total funding this year of $1 billion.
Conclusion
Following the election results, the Indian startup ecosystem saw a massive decline in its stock. Still, the market is recovering after political stability, as the stock market saw a 3.36 percent increase. Indian stock markets crashed on Tuesday following the general elections and gained momentum on Friday. On Tuesday, Delhivery, a platform that allows you to track your package across India, reported a 6.26% decline in its stock. Indian startups saw gains on Friday after the stock market gained a 3.36 percent increase, the BSE Sensex increased.
The losses in the stock market recovered almost in three trading sessions, at Rs 28 lakh crore. Many Indian startups got access to various government policies to help startups and went unicorn this year. Lewis is one of those startups that went public this year and recorded a gain in the stock market. The future and impact of the Indian startup ecosystem will again change following the new government. The stock prices for all the Indian startups fell into the negative zone last week; they are said to recover following this market gain on Friday.
Digital Marketing Executive at Scoopearth
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