Last week was full of excitement. Many will remember this week for long time. Let's look into the reasons one by one.
Results of a batch of booth wise polls were published on Saturday, 1st June, 2024 evning. Everyone filled BJP and NDA giving 339 to 400 seats. Even if the BJP alone couldn't get 400 seats alone, there was no doubt that the BJP led NDA government is returning to form the government with absolute majority.
As a result, sensex and nifty made a long jump before the opening of the market on Monday 3rd June.
The interest rate remains unchanged this time. However, the financial growth forecast for this year has been revised upward to 7.2%.The market is booming, with the Sensex climbing 1618 points on Friday, reaching an all-time high of 76,693. Over three days, it increased by a total of 4,613 points, with a net weekly gain of 2,732 points.
Amid these fluctuations, it's notable that for the first time, both the country's Prime Minister and Home Minister have encouraged people to buy shares in the Stock Market. This move has faced strong criticism from the opposition.
Regulator SEBI is currently developing guidelines for financial influencers. Many believe that ministers and high-ranking officials should be included under these guidelines to prevent insider trading, as they have access to information that could impact share prices.
