Investors lost Rs 45 thousand crores in the stock market on june 4,2024 due to election

Investors lost Rs 45 thousand crores in the stock market 2024 due to election

The S&P BSE Sensex on June 4, 2024, closed at 72,079.05.

The closing price of the S&P BSE Sensex on June 3 was 76,468.78.

Investors lost Rs 45 thousand crores in the stock market on june 4,2024 due to election

Sensex drop on June 4, 2024: 5.74 %

Nifty drop on June 4, 2024: 5.93 %

Sensex historical drop: 12.55 %

Nifty historical drop: 12.98 %

Sensex fall 3900 points

Nifty cracks below 22000

Investors lost Rs 45 thousand crores in the stock market 2024 due to election

Investors lost Rs 45 thousand crores in the stock market on june 4,2024 due to election

stock futures were lower on June 4, with the Dow Jones Industrial Average dropping 118 points, or 0.3%. The S&P 500 and Nasdaq 100 futures also ticked down 0.3% each. The move in futures came after the Dow fell more than 115 points, or 0.3%, on the first trading day of June. The Sensex and Nifty both declined on June 4 as well, with investors losing Rs 45 thousand crores in the stock market due to election-related uncertainty.

The market crash on June 4, 2024, was a significant event. On that day, the S&P BSE Sensex dropped by 4,389.73 points, which is a 5.74% drop from its previous close. The NSE Nifty50 dropped by 1,379.40 points, which is a 5.93% drop from its previous close.

This crash was one of the largest in recent history, with the Sensex experiencing its largest one-day drop in over 4 years. The Nifty also saw its largest one-day drop in over 4 years.

The crash was likely triggered by the election results, which led to a sell-off in the market. The losses in Sensex and Nifty were significant, with investors losing a substantial amount of money.

Union Home Minister Amit Shah’s advise

On June 4, Union Home Minister Amit Shah advised stock investors to buy before the date for Lok Sabha election outcome, expecting the domestic stock market to shoot up going ahead. He stated that he cannot anticipate stock market moves, but a stable government is generally followed by a market rally. He seemed unfazed by the prevailing market uncertainty over the poll outcome.

Is Amit Shah manipulated India’s people for their loses in stock market on 4th june?

Based on the information available, it is not clear whether Amit Shah manipulated India’s people with his statement on June 4th regarding the share market. Amit Shah, the Union Home Minister of India, made a statement on June 4th, 2024, that the stock market will “shoot up” after the Lok Sabha Elections 2024 results are announced. He claimed that the BJP and its allies will come to power in a huge majority and that the NDA alliance will cross the 400-plus mark. He also stated that the stock market crash cannot be linked to elections, but he suggested that investors buy shares before June 4th.

However, it is important to note that Amit Shah is an avid investor and has invested in stocks of 181 listed companies, valuing his equity portfolio at ₹17.43 crore. His top bets include shares of Colgate-Palmolive (India) Ltd, Hindustan Unilever, and MRF. His wife Sonal Shah also owns shares in 79 listed companies.

It is also worth noting that a recent research report by Bernstein last month said that the media opinion polls about results may be “hyped” and the incumbent government, even though is likely to continue in power, may not be getting as many Lok Sabha seats as predicted in the opinion polls. The report states that a correction in the market is inevitable, and markets that are simply looking for a reason to fall may overreact to a sentiment that may not mean much rationally.

Therefore, it is up to the individual to decide whether Amit Shah’s statement was manipulative or not. It is always advisable to do your own research and consult with a financial advisor before making any investment decisions.

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