BENGALURU, June 4 Reuters Indian shares fell sharply Tuesday as early votecounting trends showed Prime Minister Narendra Modi39;s Bharatiya Janata Partyled alliance was likely to win a majority, but the extent of the victory was not clear as its lead was narrower than predicted.

The NSE Nifty 50 index was down 3 at 22,566 points as of 1050 a.m IST, and the SP BSE Sensex fell 3 to 74,154.

The indexes fell as much as 3.7 earlier in the session, erasing all of Monday39;s gains after exit polls projected that the BJPled alliance will likely get a twothirds majority in the lower house.

TV channels showed the ruling National Democratic Alliance was ahead in more than 300 seats. 272 seats is the minimum needed for a simple majority in the 543member lower house of parliament.

The leads for the NDA is much lower than what the market could be comfortable with. It39;s very early and markets will remain will volatile depending on how the numbers change every minute, said Siddhartha Khemka, Head Retail Research, Motilal Oswal Financial Services.

All sectors were in the red. Bank stocks fell 4.2, infrastructure declined 5, while oil and gas stocks lost 5.9 and staterun companies and banks retreated 8.5 and 8.9.

Adani Enterprises and Adani Ports were top losers in Nifty 50 index, falling 12 and 10, respectively. Other Adani group stocks were down between 612. The group stocks had jumped between 418 on Monday after the exit polls.

The volatility index jumped to its highest…