The world’s first ‘Exit Poll Stock Market Scam’

On May 31, there was a sudden frenetic activity in the Indian stock markets. The value of shares bought and sold on the National Stock Exchange (NSE) doubled from the previous day. Such a huge increase in stock trading in one day is very rare, even when there may be an important and surprising news or event. For example, on March 12, 2020, when the World Health Organization declared the coronavirus outbreak a global pandemic, stock market activity increased 22% from the previous day, but even then it did not double. Trading activity in the stock market last doubled on May 16, 2014, when election results were announced and Narendra Modi won with an absolute majority in the Lok Sabha, the first time in three decades, which It was a big surprise at the time.