Stock market will ‘shoot up’ after June 4: Amit Shah
Union Home Minister Amit Shah told NDTV in an exclusive interview on Sunday that while the stock market shouldn’t be correlated with elections, a stable administration does help it perform better. He added that if the BJP and its allies win a landslide in the Lok Sabha elections, the market will shoot up after June 4.
The results of the seven-phase will be announced with the counting of votes on June 4.
Home Minister Amit Shah predicts that the stock market will achieve unprecedented milestones on June 4.
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Over the previous few sessions, the share markets have experienced significant corrections for a variety of reasons. In response to questions on reports that the share market collapses were a sign of the BJP’s bad performance, Shah said that there had been 16 previous instances of larger market corrections.
“Stock market collapses shouldn’t be linked with elections, but even if such a rumour has been spread, I suggest you to buy (shares) before June 4. It will shoot up,” he said.
Stock market performs well when there’s a stable government, says Amit Shah
Shah stated that he would not comment on whether Sensex would surpass the one lakh milestone, however the stock market does well anytime there is a stable government.
“That’s why I am saying we are going to get 400-plus seats and a stable Modi government will be in power. Therefore, the share market will certainly go up,” he said.
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Nifty 50 hit all-time high on May 3
Since May 3, when it reached its highest point ever, the leading index Nifty 50 has declined by more than 4%. The index has nevertheless increased, meanwhile, by more than 12% over the last six months and almost 20% over the previous year.
According to the NDTV report, the Home Minister is hopeful about the Indian stock market despite its recent dip and isn’t overly concerned about it.
“Whenever there is a steady government, markets do well. Modiji is coming back as the prime minister for the third time,” he told the news channel.
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Amit Shah has predicted that Bhartiya Janata Party (BJP) will win 190 of the 283 seats in which three of the seven phases of the Lok Sabha 2024 elections have polled so far.
As the fourth round of the Lok Sabha elections is underway on 96 seats, the Indian stock market kept plunging on Monday, May 13.
