Share markets bounce back sharply after massive drop; Sensex surges over 3%

A day after the Lok Sabha election results, benchmark equity indices Sensex and Nifty ended the day on an optimistic note on Wednesday.

Making a strong comeback after Tuesday's sharp decline, the 30-share BSE Sensex jumped over 2300 points to 74,382. The NSE Nifty went up by 735 points to 22,620.

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While the BJP led NDA is comfortably above the majority mark of 272 in the 543-member Lok Sabha, the BJP by itself, has fallen short of the magic number of 272 for the first time since 2014 and is critically dependent on its allies for government formation.

Markets had the worst trading day in four years on Tuesday with the Sensex nosediving 4,389 points or 5.74 per cent to settle at a more than two-month low of 72,079.