Sensex and Nifty 50 dropped 3 percent ahead of the June 4 election results, as early trends show that the NDA coalition's majority may not be as emphatic as exit polls had forecast. Shares of state-owned companies and key Adani group stocks were among the biggest losers in early trade. These stocks had gained the most on Monday. "The market discounted the election outcome on June 3 itself. It is expecting the BJP-led NDA to win 350-375 seats. If this number becomes a reality, the market will likely sustain the gains," said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities. At 9.42 am, the Sensex was down 2,242 points or 2.9 percent at 74,226 and the Nifty 50 was down 697 points or 3 percent at 22,566. About 420 shares advanced, 2,610 shares declined, and 90 shares remained unchanged. Excluding Nifty Pharma, Nifty Healthcare, and Nifty FMCG, the remaining nine sectoral indices were in the red. Financial services and oil and gas stocks, wh...