Amit Shah predicts THIS for Indian stock market after Lok Sabha election results
Also Read: ‘Market expecting positive end to the elections’ Despite the recent fall, the Home Minister remains optimistic on the Indian stock market and isn’t too worried about the decline, said the NDTV report. “Whenever there is a steady government, markets do well. Modiji is coming back as the prime minister for the third time," he told the news channel.
Shah has projected his Bhartiya Janata Party (BJP) to win 190 seats out of the 283 seats polled so far in three out of seven phases of Lok Sabha 2024 elections. Meanwhile, the Indian stock market continued its downward trajectory on Monday, May 13, when the voting is currently underway in 96 seats during the fourth phase of Lok Sabha elections. Read here: Stock market crash: Why is Indian stock market down today? — explained with 5 major reasons The share market is down today on the back of a combination of several factors including a spike in volatility, unimpressive Q4 results, ongoing Lok Sabha elections and sustained selling by FIIs.
A low voter turnout so far has hit investor confidence, resulting in a bearish market sentiment, as analysts believe this would hurt the ruling BJP’s performance in the election. On Monday, the Indian stock market succumbed to selling pressure as frontline indices lost up to 1% each in early morning session. At 11:40 am, the Sensex was trading 298.44 points, or 0.41%, lower at 72,366.03, while the Nifty 50 was down 75.15 points, or 0.34%, at 21,980.05.
Broader markets witnessed more intensified selling as the smallcap and midcap indices declined up to 1.5% each during morning deals. Meanwhile, the India VIX today witnessed a sharp rise and touched a new 52-week high of 21.41. Catch Stock Market Live Updates hereMilestone Alert!
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