Amit Shah Gives Prediction For Indian Share Market After Election Results, Here's What He Said

The minister expressed caution against linking the recent fluctuations in the stock market with the 2024 Elections and urged investors to buy stocks before June 4, 2024

Notably, the Nifty50 index plunged over 2 per cent in the last 30 days ( Image Source :Getty )

Union Home Minister Amit Shah on Monday expressed optimism about the future of the Indian stock market post the results of the Lok Sabha Elections. In an exclusive interview with a media channel, the minister called on investors to acquire stocks before June 4, 2024, when the results of the ongoing elections are announced.

Shah said that the future of the Indian share market seemed bright post the elections. “I can't anticipate stock market moves. But normally whenever a stable government is formed at Centre, the market sees a rally. I see 400-plus seat wins for the Bharatiya Janata Party [BJP], a stable Modi government coming, and thus market rising,” the minister told NDTV in the interview. 

The minister expressed caution against linking the recent fluctuations in the stock market with the 2024 Elections. Notably, the domestic stock market has been witnessing a downfall in six out of the last seven sessions. The NSE benchmark index, Nifty50, has plunged over 4 per cent to touch a low of 21,821.05 on Monday against its 52-week high of 22,794.70.

However, Shah maintained that the fluctuations of the market shouldn’t be linked to the elections. 

“The market has fallen more in the past as well. Thus, linking market movements directly to elections is not wise. Maybe the fall was due to some rumours. In my opinion, buy before June 4. The market is going to shoot-up,” the Home Minister shared in the interview. Notably, the Nifty50 index plunged over 2 per cent in the last 30 days.

On Monday, the Home Minister shared an appeal to the Indian public and urged them to provide their support for a ‘decisive government’. Expressing his appeal in a social media post on X, Shah said, “As the voting for the 4th phase of the elections begins today, I appeal to all to vote for a decisive government that will continue to promote India's cultural heritage and develop infrastructure, infuse power into the farm sector and accelerate industrial growth, fortify national security, reform administrative and legal processes, uplift the poor, and facilitate youth with new opportunities to build a developed nation.”