Market Crash Sparks Political Clash After Exit Poll Predictions

Hours after the final phase of polling in the Lok Sabha elections concluded, several exit polls predicted the NDA could win 400 seats, causing the Sensex to soar. However, as official numbers emerged on Tuesday, the BSE Sensex plunged over 6,000 points to 70,300, while the Nifty50 fell below 21,884, ending at 21,884.50. This sharp decline resulted in a market capitalization drop of Rs 45.56 lakh crore to 380 lakh crore, leading to significant investor losses. On Thursday, Congress MP Rahul Gandhi called the crash deliberate market manipulation, questioning Prime Minister Narendra Modi and Home Minister Amit Shah about government surveys predicting 230 seats and their subsequent advice to investors to buy shares, which led to retail investors losing money. Gandhi demanded a joint parliamentary committee probe into a possible link between the BJP and exit pollsters. The BJP, with Piyush Goyal responding, accused Rahul of creating fear among investors. Just two days after the results, a reinvigorated opposition has immediately gone on the offensive, with the NDA government now heavily reliant on allies and facing potential challenges in the coming months.