Sensex to become less volatile after every election phase: EAM Jaishankar
Mumbai, May 13 (IANS/WISHAVWARTA) As more election rounds get completed in the seven-phase Lok Sabha election, the Indian markets will become less and less volatile, External Affairs Minister (EAM) S. Jaishankar said here on Monday. Addressing the National Stock Exchange (NSE) seminar on ‘Indian Capital Markets: Road Map For Viksit Bharat’, the minister said that investors are waiting for the June 4 results and then will take a call. EAM Jaishankar said that when the elections are going on, “people may debate on the exact election numbers”. “I’m very sure as round after round, the markets will be less and less volatile,” said the minister. The Indian Indices are currently witnessing a volatility phase. The Nifty VIX index has increased more than 20 points in the last five days. An uptick in the VIX index indicates increased volatility. The VIX index saw a significant increase during the earlier Lok Sabha elections too. It began to rise 22 days before the 2014 Lok Sabha elections, whereas in 2019, this trend was seen 35 days earlier. At the media conference, EAM Jaishankar also said that he definitely sees “much more foreign investment coming in”. Meanwhile, the Sensex and Nifty recovered from the day’s lows and closed 111 points up. According to market experts, investors should remain watchful ahead of the release of India and US inflation data this week. —