TMC for Sebi probe into mkt crash on exit polls

Mumbai: A delegation of Trinamool Congress MPs met officials of the Securities and Exchange Board of India (Sebi) here on Tuesday and demanded a probe into the alleged stock market manipulation following exit polls earlier this month.The delegation, comprising TMC MPs Kalyan Banerjee, Sagarika Ghose and Saket Gokhale, was joined by Shiv Sena (UBT) MP Arvind Sawant and former NCP (SP) MLC Vidya Chavan.

Notably, Congress MP Rahul Gandhi had alleged that Prime Minister Narendra Modi and Union Home Minister Amit Shah were directly involved in what he described as the biggest stock market scam, with retail investors losing Rs30 lakh crore due to the market crashing after the Lok Sabha poll result earlier this month.

The BJP has dismissed his charges as ‘baseless’.

West Bengal Chief Minister and Trinamool Congress (TMC) head Mamata Banerjee has demanded an investigation into how stock markets were ‘manipulated by using fake exit polls’. After the meeting, Kalyan Banerjee told reporters, “Sebi had a glorious role in the past. We have confidence in Sebi, which is why we are seeking an investigation into the manipulation of the stock market by the reason of misleading exit polls for the Lok Sabha elections 2024.”

He said the delegation also demanded a probe into whether exit poll agencies have any connection with political leaders. On June 3, the share market rose, but it crashed a day later. In 24 hours, small investors lost Rs30 lakh crore, the MP claimed, adding that families of politicians have earned crores due to this.

“Amit Shah repeatedly said in various election campaigns to purchase early (before the polls) and you (investors) will get the benefit. We need an investigation to instill confidence (among investors),” the MP said.