The low voter turnout in the ongoing Lok Sabha elections has resulted in a dip in Sensex and Nifty. Amidst the fall of indices, Home Minister Amit Shah has advised investors to benefit from the dip.
“The stock market has witnessed bigger dips than this one. It should not be linked to the elections. Anyways, rumors may have happened. You can buy before June 4, it (the market) will shoot up,” stated the BJP leader to NDTV.
Upon being asked if the market will reach a new high post elections, Shah said that although he cannot analyze the stock market, but he is aware that the stock market normally rises when there is a stable government. Further ahead, Shah explained that he is certain of Prime Minister Narendra Modi- led BJP will return to power with more than 400 seats, which will set an example of stable government, hence “the market will go up for sure.”
A voter turnout in the first phase of elections has increased perceived uncertainty on the outcome, even if the consensus is firmly rooting for a return of the incumbent, as per the market insiders.
