Market will shoot up after June 4th, says Amit Shah; attributes volatility to rumours

Union Home Minister Amit Shah said that investors should buy stocks before June 4 as he expects the market to shoot up post the election results. He also expressed confidence of NDA sweeping the Lok Sabha elections. He further said that the share market shouldn't be linked with elections, but a stable government does pave the way for it to perform better.

During the early trade on Monday, Sensex dropped 742 pts to 71,922 as selling by FIIs continued. Reflecting a weak investor sentiment on Dalal Street, Nifty too slipped 194 points to 21,861.

Amit Shah on Share market

When asked about rumours that the share market crashes indicated a poor performance by the BJP, Amit Shah pointed out that the markets have made bigger corrections 16 times prior to this.

"Stock market crashes should not be linked with elections, but even if such a rumour has been spread, I suggest you that buy (shares) before June 4. It will shoot up," he said.

He further indicated that the stock market performs well whenever there's 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.

Voting for Lok Sabha polls began on April 19th and will end on June 1st. The result will be announced on June 4th.

Also Watch: Stock market crash: As volatility rises amid Lok Sabha elections, indices see deep cuts