As the Lok Sabha election 2024 progresses towards its fourth phase, the Union Home Minister and BJP leader Amit Shah on Monday, May 13, during an interview with NDTV Profit addressed the concerns regarding the recent fluctuations in the stock market and added that the ongoing Lok Sabha election should not be directly linked to these market movements.
Speaking in an interview with NDTV, Shah stated that while there may have been some rumors related to market volatility, it is important not to overstate their impact.
Shah added, to the interview that the stock market has witnessed a more significant downturns in the past, and it has recovered each time. He also asserted that there is no direct correlation between the current market decline and the ongoing Lok Sabha election.
Acknowledging the speculation among investors, he dismissed the rumors affecting market sentiments and even suggested investors to consider buying stocks before June 4, the date of election results, anticipating a potential surge in the market performance thereafter, expressing confidence in a positive outcome for both the market and the BJP's prospects in the election result.
Stock Market - Monday, May 13, 2024
The Indian stock market on Monday ended the day on a positive note. The BSE Sensex ended up 111.66 points or 0.15 percent at 72,776.13, and the Nifty closed up 48.85 points or 0.22 percent at 22,104.05.
Moreover, Nifty Bank rose by 333 points or 0.70 per cent to settle at 47,754.10.
From the Sensex pack, Asian Paints, Sun Pharma, HDFC Bank, TCS, and Axis Bank were among the major gainers whereas Tata Motors, NTPC, Bharti Airtel, Titan and SBI were among the major laggards.
Voter's Turnout
Compared to the Lok Sabha election 2019, the voters turnout has been lower in the initial phases of the current Lok Sabha election. The first phase had a voter turnout of 66.14 per cent, while the second saw 66.71 percent, and the third recorded 65.68 percent, as reported by the Election Commission.
Today, on May 13, voting commenced for the fourth phase across 10 states and Union Territories, encompassing 96 Lok Sabha seats.
