As counting begins for the Bihar Assembly elections, early trends show the ruling NDA alliance gaining a decisive lead. However, the political momentum could not lift investor sentiment today, as the Indian stock market opened with sharp losses, mirroring Thursday’s decline in U.S. markets.

Sensex and Nifty Open Deep in Red

The BSE Sensex opened 418.53 points lower, down 0.50%, at 84,060.14, with 22 of its 30 components trading in the red. The NSE Nifty 50 slid 110 points (0.4%) to begin the session at 25,768.

The sell-off largely tracked global cues, with U.S. tech stocks plunging over concerns surrounding the Federal Reserve’s next rate move. The weakness extended into Asian markets this morning, and India was no exception.

Losers and Gainers

Top Decliners:

• Tata Motors
• Infosys
• Tata Steel
• ITC
• Tech Mahindra
• Maruti Suzuki

Top Gainers:

• Trent
• Bharat Electronics (BEL)
• Adani Ports
• Bajaj Finance

In the broader market, the Nifty Midcap Index managed a mild 0.03% uptick, while the Nifty Smallcap Index traded flat.

Sector-Wise Impact: Metal and IT Hit Hardest

Metal and IT counters saw the steepest fall, while auto and FMCG stocks also showed weakness in early trade. Tata Motors (Commercial Vehicles) tanked more than 3%, after reporting a ₹867 crore loss in Q2, compared to a ₹498 crore profit in the same quarter last year. This was Tata Motors’ first quarterly result since the independent listing of its subsidiaries, and the performance disappointed investors.

Political Overhang: Temporary, Say Experts

While Bihar’s election trends showed the NDA comfortably crossing the majority mark, analysts believe the political impact on markets will be short-lived.

V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted:
“The influence of election results on the market will be temporary, regardless of the outcome. Medium- to long-term market movement will be driven by fundamentals, particularly earnings growth. With strong GDP numbers and improving earnings visibility, there is reason for optimism.”

If