Former finance secretary seeks probe into stock market crash

EAS Sarma also sought to know if an outsider, particularly a a large investor in the stock market, provided unsolicited advice to the prime minister.

BySouth First Desk

Published Jun 07, 2024 | 8:30 AMUpdatedJun 07, 2024 | 8:30 AM

Following the exit poll prediction, the Sensex shot up by 2,507 points, but the next day, it tanked 4,390 points or 6 percent to settle at 72,079. (Wikimedia Commons)

Former finance secretary EAS Sarma on Thursday demanded an ED inquiry into the 4 June stock market crash in which ₹31 lakh crore of investors’ wealth was wiped out. Sarma wanted to know if regulator Sebi had taken any action to calm the market or initiated an investigation to ascertain the reason behind the sharp fluctuations.

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