Congress leader Rahul Gandhi has accused Prime Minister Narendra Modi and Home Minister Amit Shah of causing a major crash in the Indian stock market following the results of the Lok Sabha elections. He has called for a Joint Parliamentary Committee (JPC) investigation, alleging corruption against them.

At a press conference in New Delhi on Thursday, Gandhi labeled the market collapse as the "biggest stock market scam," claiming retail investors lost 30 lakh crore rupees as a result. He questioned how the Prime Minister and Home Minister could advise stock market investors, stating, "How can the prime minister and home minister of a country advise stock market investors?"

Gandhi pointed out that this was the first instance where Modi, Shah, and Finance Minister Nirmala Sitharaman commented on the stock market during the elections. According to him, Modi assured the public four times that the stock market would rise, while Shah urged investors to buy shares, predicting an upturn from June 4.

He further alleged that fake booth polls were published on June 1, stating that the BJP's internal survey predicted they would not secure more than 220 seats. Despite this, the stock market surged to record highs on June 3. However, it crashed on June 4 when the election results were announced, causing investors to lose 30 lakh crore rupees in one day. Gandhi emphasized the need to "understand the chronology," labeling it the biggest scam in the stock market and insisting on a JPC investigation.

The stock market had initially strengthened with predictions of a BJP-led NDA alliance victory, but it crashed when vote counting began. The Sensex index fell by more than seven percent by 12:30 PM on Tuesday, losing five and a half thousand points and dropping to the 70,000 level. Similarly, the Nifty 50 index fell by around seven percent, reaching 21,600.

As the day progressed, the market continued to decline, causing investors to lose crores of rupees within 20 minutes of trading. Experts attributed the market's initial rise to the effect of booth return surveys, but miscalculations led to the subsequent collapse.