Alleging Prime Minister Narendra Modi and Union Home Minister Amit Shah of “committing the biggest stock market fraud in the history of India”, Congress leader Rahul Gandhi demanded a Joint Parliamentary Committee (JPC) investigation into the stock market plunge on June 4 when investors lost ₹30 lakh crores.

At a press conference today, Rahul Gandhi said, “On May 13, Union Home Minister Amit Shah had asked people to buy shares before June 4, on May 19, Prime Minister Narendra Modi said that the stock market will break records on June 4. The finance minister of the country was saying the same thing.

“On June 1, the media released exit polls and on June 3, the markets were at an all-time high. However, on June 4, ₹30 lakh crores of the retail investors were washed away when the market went ‘underground’.”

Gandhi was referring to the lowest point of Sensex on June 4, the vote-counting day when the market was at an all-time low since the Covid-19 pandemic.

He said this is the first time in India that the prime minister, home minister, and finance minister have directly commented on stock market trends.

“The prime minister said that it will go up, and the home minister even asked to invest before June 4.”

Gandhi alleged that the BJP knew about the results, their internal survey and intelligence agencies had informed the ruling party about securing 200-220 seats, and still, the message about the stock market was conveyed by the prime minister and home minister of the country.

“We demand a JPC investigation into this,” said Gandhi.

He was also vocal about the involvement of an outer entity, saying that the interviews about the stock markets were given on ‘media houses owned by a business group’.

The Congress presented a slide at the conference which said, "Common Indians lost ₹38 lakh crore in the stock market on June 4"

It also had questions that read -

• Why did the PM and HM give specific investment advice to the 5 crore families investing in the stock markets? Is it their job to give investment advice to the people?
• Why were both interviews given to the same media house owned by the same business group, which is also under SEBI investigations for manipulating stock markets?
• What is the connection between the BJP, the fake exit pollsters and the dubious foreign investors, who invested one day before the exit polls were announced and made huge profits at the cost of five crore investors' families?

A chart was shown at the conference where a massive activity was shown on May 31.

“The stock activity on the market on May 31 is double than on previous days, May 28 and 29, thousands of crores were invested on this day, a day before the exit polls were announced,” said Gandhi.

“When the market plunged on June 4, five crore retail investors lost ₹30 lakh crores.

“This is a criminal act, where five crore investor families lost thousands of crores on the prime minister and finance minister’s instructions to buy before June 4.”

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