Rahul seeks JPC probe into mkt crash; BJP hits back

Congress leader Rahul Gandhi on Thursday demanded a joint parliamentary committee (JPC) probe into stock market fluctuations from May 31, a day before the release of the Lok Sabha election exit polls, to June 3, when benchmark indices rose to an all-time high after exit poll projections, and the massive drop of 30 trillion on June 4, the day of the election results.

- ARCHIS MOHAN

The Bharatiya Janata Party (BJP) rejected Gandhi's allegations, with party leader Piyush Goyal terming these baseless and a conspiracy to mislead investors. Goyal, a member of the outgoing Union Cabinet, said small investors benefitted from the rally that the market saw on Monday, a day before the counting of votes.

Addressing a press conference on Thursday evening, Gandhi alleged PM Narendra Modi and Union Home Minister Amit Shah were "directly involved" in what he termed the country's "biggest stock market scam". He alleged the two leaders, in their interviews to a private news television channel, gave "specific investment advice to 50 million families investing in the stock market, which led to retail investors losing ₹30 trillion on Tuesday.