The Sensex and Nifty fell more than 5% today as early indications suggested that the BJP will win fewer seats than exit polls had forecast. 

At 73,156.91, the 30-share BSE Sensex fell 3,311.87 points, or 4.33 percent. At 22,161.35, the NSE Nifty fell 1,102.55 points, or 4.73 percent. Following this, the Nifty fell 1,263.3 points, or 5.43 percent, to 22,00060, and the BSE benchmark fell 4,131.44 points, or 5.40 percent, to 72,337.34. 

State Bank of India fell more than ten percent among the thirty Sensex corporations, while Power Grid and NTPC also fell close to ten percent. The other major players were Larsen & Toubro, Axis Bank, Tata Steel, and Reliance Industries.

On Monday, however, the market indices surged to all-time highs as the exit polls indicated that the Modi government would be back in office for a third consecutive term. The Sensex increased by 2,778 points, or almost 4%, to reach 76,738.89, its all-time high. The Nifty 50 increased by 808 points, or almost 4%, to reach a new record high of 23,338.70.

According to exit polls conducted on Saturday, Prime Minister Narendra Modi is projected to hold onto office for a third consecutive term, with the BJP-led NDA predicted to secure a sizable majority in the Lok Sabha.

Today's stock picks:

GIPCL: Purchase at Rs.209, aim for Rs.220, set a stop loss at Rs.202.

GAIL: Buy at Rs.231, target price is Rs.244, stop loss at Rs.223.

Ashapura Minechem: Acquire at Rs.383.50, goal is Rs.405, stop loss at Rs.370.

CONCOR: Enter at Rs.1174.25, target is Rs.1230, stop loss at Rs.1130.

NCC: Buy at Rs.313, target Rs.330, with a stop loss of Rs.302.

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