Following an extraordinary surge in the stock market at the start of the week, Samajwadi Party chief Akhilesh Yadav remarked that it was driven by people seeking profits and suggested it might not be sustainable. The market soared to unprecedented levels after exit polls predicted a clear victory for the BJP-led NDA coalition, igniting optimism among investors.
Akhilesh said, “This (Sensex-Nifty mark record highs) is because people are trying to earn a profit, tomorrow they will get away. Amul has increased the price of milk by Rs 2 to improve your health. They have increased prices to help their people earn profits. There is a possibility that they will have a slow counting and have power cuts at night.”
The Sensex experienced a remarkable increase of 1859.88 points, achieving a historic high of 75,821.19 at the opening.
Similarly, the Nifty surged by 603.85 points, commencing the day at 23,134.55. It’s worth noting that all 50 companies listed in the Nifty index recorded gains, with no losses, indicating an uncommonly strong market performance.
Adani Ports, Adani Enterprises, Power Grid, Shriram Finance, and NTPC stood out as top performers, leading the market rally with significant gains.
Additionally, the Samajwadi Party leader criticized the exit poll predictions, highlighting the disparity between the ground reality and the forecasted outcomes.
“In this scorching heat, people voted to strengthen this democracy and the constitution. It was not seen anywhere that people came in support of the Bharatiya Janata Party. Have the organizations and agencies that conduct exit polls have been doing booth management for the BJP for many years or not?” he said.
“These exit polls were actually prepared many months ago. They have just been aired on the channels now. The conspiracy behind this is of media to show the BJP crossing 300 so that there remains scope for fraud. It should not be surprising if the BJP is thinking of taking advantage of the ups and downs of the stock market index based on these exit polls,” he added.
Akhilesh Yadav also voiced concerns about the potential for conspiracy during the vote counting process, urging all members of his party to diligently monitor the Form 17 of the candidates.
“The copy of Form 17C is with the agents, our party has all those forms in the office because we knew that BJP can be involved in any conspiracy, hence we have kept all the information from day one,” he said.
“This answer should be given by the Election Commission if someone has any doubt as to why the votes are increasing. Form 17C has complete information about how many votes have been cast. I hope the Election Commission will follow all the rules,” he further added.
