The stock markets have been quite jittery ahead of the election results on June 4th. Amidst this, PM Modi in an interview to a TV channel downplayed the nervousness on Dalal Street. PM said that the stock market will break all previous records on June 4th.
Speaking to NDTV, Modi said that the day election results come out, and throughout that week, stock market programmers will get tired of the action. He further highlighted the market growth over the past decade, from 25,000 to 75,000.
Since the elections began on April 19, the stock market has experienced significant volatility, with concerns over the BJP's potential seat count. The Prime Minister's statement follows Union Home Minister Amit Shah's assurance to stock investors to "buy before June 4."
FIIs have net sold shares worth around Rs 28,500 crore so far in May, making it one of the worst months in recent years from a foreign fund flows perspective.