(Image source from: x.com/RahulGandhi)

On Thursday, Congress leader Rahul Gandhi strongly criticized Narendra Modi and Amit Shah for the volatility in the stock market on June 4, the day the results of the 2024 Lok Sabha election were announced. Gandhi claimed that individual investors "lost 30 lakh crore rupees" that day, calling it the "biggest scam in the history of the Indian stock market." In response, BJP leader Piyush Goyal dismissed Gandhi's allegations, accusing him of sowing fear among domestic and international investors. Gandhi pointed out that during the election campaign, the Prime Minister, Home Minister, and Finance Minister had all made public comments about the stock market, with the Prime Minister and Home Minister predicting a rise on June 4 and encouraging people to invest. Gandhi argued that these statements from top government officials amounted to undue influence on the stock market.

The government agencies had previously informed the administration that they anticipated achieving 200-220 seats. On June 3, the stock market reached unprecedented heights, only to plummet the very next day, on June 4. The Congress leader further noted that on May 31, there was an unusually high level of stock activity, more than double the activity seen on May 29 and May 30. The leader questioned the identity of these individuals, suggesting that they were privy to a scam. Foreign investors had invested thousands of crores, while retail investors lost a staggering 30 lakh crore rupees, making this the biggest scam in the history of the Indian stock market. The leader raised several questions, including why the Prime Minister and Home Minister provided specific investment advice to the 5 crore families investing in the stock market, as this does not seem to be their primary responsibility. Additionally, the leader questioned the decision to conduct interviews with the same media house, which is owned by the same business group that is under investigation by SEBI for manipulating the stock market. Finally, the leader inquired about the connection between the BJP, the fake exit pollsters, and the dubious foreign investors.