Rahul Gandhis Stock Portfolio Beat Market Returns Amid Election Dip

As investor wealth plummeted by Rs 30 lakh crore following an election result that defied street expectations, Indian National Congress leader Rahul Gandhi’s equity portfolio not only weathered the storm but also managed to beat market returns.

A group of 23 stocks owned by the politician grew by 5.8% since May 31, the last trading day before markets turned volatile, while the benchmark Nifty 50 rose 3.3%.

Assuming no change since the disclosures made ahead of the Lok Sabha elections, the total of the portfolio stands at Rs 4.6 crore at closing levels on June 7.

On June 3, exit polls had predicted a landslide victory for the National Democratic Alliance, which led to an over 3.2% gain in the index, fuelled by euphoria over political stability and policy continuity.

This expectation was, however, overturned as no single party emerged with a clear majority on Tuesday, leading to the biggest market crash in over four years.

The Nifty 50 closed 5.9% lower on Tuesday, paring some losses from an intraday low of 8.5%—the most in a day since March 23, 2020.

Gandhi’s portfolio fell only 0.9% amid the market crash on Tuesday, losing Rs 3.9 lakh, as against a 5.9% decline in the index. On Monday, it rose marginally by 0.7%, failing to mirror the market’s surge.

The biggest gainers in his portfolio were Garware Technical Fibres Ltd. and Hindustan Unilever Ltd., which grew 17.1% and 10.7%, respectively.