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PM Modi's prediction of market rally post-poll comes true as Sensex, Nifty hit record highs

PM Modi's prediction of market rally post-poll comes true as Sensex, Nifty hit record highs
PM Modi's prediction of market rally post-poll comes true as Sensex, Nifty hit record highs

 


Prime Minister Narendra Modi's prediction of a stock market rally after the Lok Sabha elections is coming true, with the Sensex surging over 5,000 points since June 4, when the results were declared. In the last nine trading sessions, Sensex and Nifty have hit all-time highs. This led to an increase in investor wealth by 42.4 lakh to 437.24 lakh.

Prime Minister Narendra Modi offers prayers during Ganga aarti at Dashashwamedh Ghat in Varanasi.  (ANI)
Prime Minister Narendra Modi offers prayers during Ganga aarti at Dashashwamedh Ghat in Varanasi. (ANI)

While campaigning for the Lok Sabha elections, Modi had said that the stock market would hit record highs after the election results were declared. You will notice that in the week following June 4, the day the election results are announced, market participants will be tired.

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I can confidently say that on June 4, when the BJP will achieve record numbers, the stock market will also achieve new records,” he had said.

Home Minister Amit Shah also said investors should buy before June 4 as the stock market will soar after the results.

After the elections, the statements of Prime Minister Narendra Modi and Amit Shah became a political issue as Congress leader Rahul Gandhi claimed that the June 4 crash, in which investors lost 31 lakh crore of notional wealth was due to market manipulation. The Congress has demanded a probe by a Joint Parliamentary Committee (JPC) as the Sensex hit a record high on June 3 after the exit polls, but fell the next day.

Meanwhile, Morgan Stanley has predicted that the Sensex will hit 82,000 in the next 12 months. He said: “The main advantage for the market of the NDA re-election is political predictability, which will influence the course of growth and stock market returns over the next five years. We believe the government will likely continue to focus on macroeconomic stability (i.e. hawkish inflation) to inform policy.

Sources

1/ https://Google.com/

2/ https://www.hindustantimes.com/business/pm-modis-stock-prediction-comes-true-as-sensex-up-over-5-000-points-after-lok-sabha-elections-101718777913341.html

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