Amit Shah asks people to buy shares before June 4

The share market in India will shoot up after June 4 when the BJP-led coalition will win more than 400 Lok Sabha seats, BJP leader and home minister Amit Shah said on Monday (May 13).

Denying that the stock market has dipped in recent days due to an anticipated poor showing by the Bharatiya Janata Party, Shah said that this was not the case.

Not linked to elections

The stock market shouldn't be linked with elections but a stable government does pave the way for it to perform better, Shah told NDTV in an interview.

The minister pointed out that the markets have made bigger corrections 16 times prior to this.

"Stock market crashes should not be linked with elections but even if such a rumour has been spread, I suggest that you buy (shares) before June 4. It will shoot up," he said.

June 4 is when the results of the seven-phase election to the Lok Sabha will be declared.

‘400 paar’

Shah refused to say if the Sensex would zoom past the one lakh-mark but said the stock market performs well whenever there's a stable government.

"That's why I am saying we are going to get 400-plus seats and a stable Modi government will be in power. Therefore, the share market will certainly go up," he pointed out.

BSE index

The BSE index, which represents the top 30 companies in the country, has fallen below the 72,000 mark after losing over 700 points in early trading on Monday. It had crossed the 75,000-mark on May 3.

Investor sentiments play a huge role in the share markets.