- The Indian stock market is anticipated to surge after the Lok Sabha elections 2024, according to Union Home Minister Amit Shah.
- Despite the Nifty 50 experiencing a 4% drop from its record high, Shah advises against directly linking market movements to elections.
- Shah encourages investors to buy before June 4, predicting a significant market upswing.
Union Home Minister Amit Shah predicts a significant surge in the Indian stock market following the Lok Sabha elections 2024, encouraging investors to buy before June 4.
Anticipated Market Surge Post-Elections
Amit Shah, in an interview with NDTV India, expressed his optimism about the Indian stock market, stating that it is likely to “shoot up” after the announcement of the Lok Sabha elections 2024 on June 4. Despite the Nifty 50 index experiencing a 4% drop from its record high, Shah advises against directly linking market movements to elections, suggesting that the recent fall may be due to rumors.
Market Performance Amidst Election Season
The Nifty 50 index hit its all-time high on May 3 and has since dropped by more than 4%. However, the index has still managed to rise by over 12% in the past six months and nearly 20% in the past year. Despite the recent fall, Shah remains optimistic about the Indian stock market and isn’t overly concerned about the decline. He further added that steady governments often result in thriving markets, expressing confidence in Prime Minister Modi’s return for a third term.
Current Market Conditions
On May 13, amidst the fourth phase of the Lok Sabha elections, the Indian stock market continued its downward trajectory. Factors contributing to the bearish market sentiment include a spike in volatility, unimpressive Q4 results, ongoing elections, and sustained selling by Foreign Institutional Investors (FIIs). A low voter turnout has also impacted investor confidence, as analysts believe this could negatively affect the ruling BJP’s performance in the election.
Conclusion
Despite current market conditions, Amit Shah remains optimistic about the Indian stock market’s performance post-elections. His advice to investors is to buy before June 4, anticipating a significant market upswing. However, investors are advised to make informed decisions, considering the various factors influencing the market.
