Modi & Shah manipulated stock market ahead of counting: Rahul alleges

New Delhi: Rahul Gandhi turned against Narendra Modi and Amit Shah, accusing them of fraud that they were involved in stock market manipulation, culminating in a Rs 30 lakh crore loss for retail investors. Rahul, who has been elected from both Wayanad and Rae Bareilly, alleged that Modi and Shah manipulated the markets, stating that stock markets would break records on Lok Sabha elections counting day, June 4, The Telegraph reported.

The Congress leader demanded a joint parliamentary committee (JPC) investigation into the behaviour of the stock markets between the exit polls on June 1 and the actual results on June 4.

Though BJP employed Union Minister Piyush Goyal to deny Rahul’s claims, he did not explain why Modi and Shah had given investment advice during the campaign period.

Rahul reminded that on May 13, Amit Shah asked investors to buy shares before June 4, and Modi said on May 19 that stock markets would break records on June 4. Stock markets broke records and reached an all-time high on June 3rd, a day before the counting, but crashed the very next day, and small-scale investors faced a loss of Rs 30 lakh crore. There was an enormous stock activity on May 31, more than double that of May 30 or the days before.

Rahul said that thousands of crores of rupees were invested but ended up in lakhs of crores rupees for small-scale investors. “This is the biggest scam of India’s stock market history,” The Telegraph quoted Rahul Gandhi.

He further pointed out that Modi and Shah gave two interviews to the same TV channel, whose owner is facing a Sebi probe for manipulating the stock market. He wondered who Modi and Shah would give investment advice to.