Mumbai: Indian stock markets crashed by over 5,000 points this morning, after a sharp rally in the previous session, as early vote-counting trends showed Prime Minister Narendra Modi’s Bharatiya Janata Party-led alliance leading in more than 272 seats, but the extent of the victory was not clear and its lead narrower than what exit polls had predicted.

The BSE Sensex was down 5.71 per cent or 4,378 points at 72,067, while the NSE Nifty 50 was down 5.74 per cent or 1,334 points at noon. Early on Monday, BSE Sensex and NSE Nifty 50 hit all-time highs after most of the exit polls suggested a return of the BJP Government.

The benchmarks had jumped more than 3 percent on Monday, hitting record highs and logging their best session in nearly 40 months after exit polls projected that the BJP-led alliance will likely get a two-thirds majority in the lower house.

The biggest laggards in the 30 company Sensex were State Bank of India, Reliance, Larsen & Toubro, Power Grid, NTPC, and HDFC Bank. Sun Pharma and Nestle were the only gainers. Foreign Institutional Investors (FIIs) bought equities worth Rs.  6,850.76 crore on Monday, according to exchange data.