“Act now: Amit Shah advises buying stocks before June 4 for potential market surge.”

Union Home Minister Amit Shah appeared on NDTV Profit, stating that the recent stock market fluctuations should not be linked to the 2024 general elections. He advised stock investors to ‘buy before June 4,’ the date for the Lok Sabha election results, as he anticipates the domestic stock market to surge in the future.

“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 (BJP/NDA), a stable Modi government coming, and thus market rising,” Shah told NDTV. Union Home Minister Amit Shah anticipates a surge in market activity after June 4th, following the announcement of the 2024 Lok Sabha election results. Despite market uncertainty regarding the outcome, he remains composed.

The Sensex plummeted 742 points to 71,922 in early trading today morning due to persistent FIIs selling. Auto, consumer durables, and metal stocks suffered the most losses in early trade. The Nifty also declined 194 points to 21,861, indicating weak investor sentiment on Dalal Street. India VIX surged almost 14% to 21.05 in early trading, its highest level since October 2022.

Shah stated that the stock market has previously experienced crashes on multiple occasions, and there is no requirement to associate the current market decline with the results of the Lok Sabha elections.  “The stock market has fallen before as well… there is no need to connect it with the ongoing elections,” the senior BJP leader said during an interview with NDTV Profit.

Shah recognized the market’s vulnerability might stem from investors’ speculation, yet he promptly refuted these rumours and forecasted a favourable outcome for both the market and BJP’s prospects in the upcoming general elections.  “Even if the speculations led to the weakness in the markets, buy stocks before June 4 (date of election results) they will shoot up.”

In a previous interview with Network18, Shah asserted that Prime Minister Narendra Modi’s leadership has catalyzed a transformative shift in the Indian economy and the share market is “skyrocketing”. Shah explained why he was optimistic about where the Indian stocks markets were heading. “Whenever there is a steady government, markets do well. Modiji is coming back as the prime minister for the third time. Thus, my prediction.”

On a day marked by the ongoing fourth phase of elections and a decline in the Nifty stock market benchmark for the sixth time in the past seven sessions, Home Minister Amit Shah publicly addressed the situation. Despite the prevailing market volatility due to uncertainty over the election results, Shah remained composed.

Market experts anticipate sustained volatility over the following three weeks. “The exit polls on June 1 will also not give any kind of substantive relief to markets. Only when the major trends would be known in the market by June 4 afternoon is when investors will finally settle down,” said market expert Ajay Bagga.

Shah asserts that India has emerged as a trailblazer in industries that will propel the global economy for the upcoming quarter-century and that the nation has taken the lead in sectors such as green hydrogen production and semiconductor manufacturing.