Stock market to hit record high on June 4: PM Modi

stock market to hit record high on june 4: pm modi

Stock market to hit record high on June 4: PM Modi

The BJP will hit a new record on June 4, so will the stock market, Prime Minister Narendra Modi has told the Economic Times, referring to the day when the votes will be counted for the ongoing Lok Sabha elections.

“I can say with confidence that on June 4, as the BJP hits record numbers, the stock market will also hit new record highs,” Modi said in an interview to the business daily.

The market always reposed confidence in his initiatives, bringing in more domestic investors, leading to “financialisation of savings” over the past decade, he said.

“The trust the stock market places in us is evident in its remarkable performance over the past decade. When we took office, the Sensex was around 25,000 points. Today, it stands at around 75,000 points, reflecting a historic rise. Recently, we reached a whopping $5 trillion market cap for the first time ever," PM Modi added.

Benchmark indices the BSE Sensex and the NSE Nifty have been volatile in recent days but has since recovered.

On May 22, the Nifty reclaimed 22,600 in a choppy session.  At close, the Sensex was up 267.75 points, or 0.36 percent, at 74,221.06, while the Nifty was up 68.80 points, or 0.31 percent, at 22,597.80.

The India VIX, a measure of market volatility, has doubled to over 20 in just three weeks from its recent lows. Historically, the VIX has risen to as much as 29 ahead of elections, indicating heightened market sensitivity during national polls.

Also Read | PM Modi predicts post-election markets rally, cites PSU stocks strength

OTHER NEWS

2 hrs ago

Karnataka fuel price hike: BJP' BY Vijayendra says will organise protests, demands rollback

2 hrs ago

T20 World Cup: England survive rain delay, Namibia to keep Super 8s hope alive

2 hrs ago

Bakrid Mehndi Designs 2024: Stunning Arabic and Indian Heena Styles for Eid-ul-Adha

2 hrs ago

D-Street Closes At Record High, Broader Market Outperform, Will Nifty Continue This Rally On Monday?

2 hrs ago

Palaniswami's party to boycott Vikravandi bypoll, Chidambaram alleges proxy battle

2 hrs ago

Naga bodies in Manipur urge Centre to repatriate illegal immigrants

2 hrs ago

Brighton Sign Fabian Hurzeler in Place of De Zerbi, Becomes Youngest Manager in Premier League History

2 hrs ago

Yogi Adityanath holds crucial meetings with RSS chief Mohan Bhagwat post-election setback: Report

3 hrs ago

India's Forex Reserves Hit All-Time High of $655.8 Billion, Gold Holdings Rise to $57 Billion: RBI Data

3 hrs ago

T20 WC: Explosive fifty by McMullen, knocks by Berrington, Munsey power Scotland to 180/5 against Australia

3 hrs ago

Lovlina Borgohain secures silver medal in Grand Prix 2024 competition

3 hrs ago

What’s behind the spike in Maoist casualties in Chhattisgarh this year?

3 hrs ago

Kuwait Fire Tragedy: Kerala Man's Brave Leap From Third Floor Into Nearby Water Tank Saves Him

3 hrs ago

' ₹16,000 subsidy for 5,000 jobs': HD Kumaraswamy questions US firm in Gujarat getting incentives, clarifies later

3 hrs ago

Why India Vs Canada T20 World Cup 2024 Match Was Abandoned Despite No Rain?

3 hrs ago

Californian assembly resolution recognises Feb 4 as Saka Nakodar Day

3 hrs ago

Women be alert: A steep rise in UTI and vaginal infection during monsoon

3 hrs ago

Kangana Ranaut: 1 lac per month as Member of Parliament and other perks actress and BJP MP will receive

3 hrs ago

Home Minister Amit Shah to Review J-K Security Situation Today

3 hrs ago

David Wiese confirms international retirement after ENG vs NAM: Seemed like right time

3 hrs ago

HC Asks Mira-Bhayandar Civic Body to Consider Fresh Plea on Animal Slaughter for Bakri Eid

3 hrs ago

RSS Chief Mohan Bhagwat Holds 2 'Closed-Door' Meetings With UP CM Adityanath: Report

3 hrs ago

Babar Azam, Rizwan-Shaheen Stare At A Massive Pay Cut After Pakistan's Disastrous T20 World Cup Campaign

4 hrs ago

Indian man spots Virat Kohli, Rahul Dravid, Hardik Pandya and entire cricket squad at his hotel in New York. Watch

4 hrs ago

4 Easy Tips To Reduce Your Double Chin

4 hrs ago

Isha Ambani: The new fashion baroness

4 hrs ago

Indian Stock Markets Surpass Global Benchmarks In Equity Market Cap

4 hrs ago

Union Minister Suresh Gopi condoles loss of Indians killed in Kuwait fire

4 hrs ago

Badi Khabar | NEET Exam Controversy | Delhi Water Crisis | PM Modi | Modi Meloni | Top Headlines

4 hrs ago

T20 WC: Australia win toss, opt to field against Scotland

4 hrs ago

G-7 nations pledge support to specific infrastructure projects like India-Middle East-Europe Economic Corridor

4 hrs ago

How to manage high blood pressure level during hot weather?

4 hrs ago

Palestine PM writes to PM Modi, seeks India help for Gaza truce

4 hrs ago

T20 World Cup: How Rohit Sharma helped Hardik Pandya get his mojo back

4 hrs ago

Is Rishi Sunak's Conservative Party Staring A Wipe Out In UK Elections? Here's What Opinion Polls Say

4 hrs ago

'We are Really Sorry...We've Let The Entire Nation Down': Angelo Mathews After Sri Lanka's 1st Round Exit From T20 World Cup

4 hrs ago

Train Services Soon On World's Highest Rail Bridge In J&K? Here's What We Know

4 hrs ago

'Every Time There's a Question About Virat Kohli...': Vikram Rathour Not Worried Over India Opener's Poor Start to World Cup

4 hrs ago

ENG vs NAM, T20 World Cup: England Stay Alive with Rain-hit Win over Namibia

4 hrs ago

It’s not the government’s intention to kill Naxals to end Naxalism: Chhattisgarh Home Minister Vijay Sharma