India election live: Modi-led alliance's lead narrows in tighter-than-expected race

NEW DELHI -- Election Commission officials on Tuesday began counting ballots cast over India's six-week general election, which closed on June 1.

Exit polls conducted by local media on Saturday showed that the alliance led by 73-year-old Prime Minister Narendra Modi's Bharatiya Janata Party was likely to win a comfortable majority and secure a third five-year consecutive term.

Modi is likely to continue domestic policies focusing on economic reforms and infrastructure development, as well as diplomatic relations as he seeks to establish Indian leadership on the global stage.

However, the race is closer than expected and no party or coalition has officially declared victory or conceded as of 4:15 p.m. local time.

Here is how the election has unfolded (times are in India Standard Time):

5:10 p.m. Modi wins in his Varanasi constituency in the northern state of Uttar Pradesh, according to a post on the Election Commission's website.

4:08 p.m. The benchmark Sensex closed 5.7% lower, slightly recovering from a fall of 7.2% earlier. "We see Narendra Modi returning as PM but in changed circumstances," financial research firm Emkay wrote in a statement. "The broad direction of the economy is unlikely to change, though factor market reform and privatization are off the table. India is likely to now derate due to higher risk perception."

3:49 p.m. Women and Child Development Minister Smriti Irani is trailing Congress veteran Kishori Lal at the Amethi constituency in the northern Indian state of Uttar Pradesh by more than 100,000 votes, according to the Election Commission. Irani had caused a major upset in the 2019 elections by defeating Rahul Gandhi in Amethi, considered a Gandhi family and Congress stronghold.

12:50 p.m. The early trend