Opposition Indian National Congress leader Rahul Gandhi has requested a parliamentary inquiry into significant stock market movements at the end of the recently concluded national elections, accusing Prime Minister Narendra Modi of offering misleading investment advice.

Gandhi made these remarks on Thursday.

Modi's coalition claimed victory with a much narrower margin than anticipated, falling well short of the landslide victory predicted by exit polls over the weekend.

Predictions from Saturday's exit polls caused a surge in the stock markets on Monday, with the NSE Nifty 50 and S&P BSE Sensex climbing by 3.3 percent and 3.4 percent, respectively, a day before the Election Commission announced the results.

During their campaigns, Modi and some of his ministers had asserted that the markets would soar when the results were revealed on June 4, with Home Minister Amit Shah stating in a television interview, "Buy before June 4. They will shoot up."

However, the stock markets plunged to a four-year low on Tuesday, plummeting nearly 6 percent, after the election results indicated that Modi's Bharatiya Janata Party (BJP) had lost its absolute majority in the Lok Sabha, the lower house of parliament, and the BJP-led National Democratic Alliance (NDA) obtained a narrow majority to secure Modi a third term.

"We are keen on establishing a JPC [joint parliamentary committee] to look into the involvement of the prime minister, home minister, BJP members," Gandhi informed journalists.

"We wish to ascertain the identities of the foreign investors behind these transactions," he added.

Modi's outgoing trade minister, Piyush Goyal, retaliated by alleging that it was Gandhi who was misguiding investors.

"He is anxious about Modi returning to power. ... He is pressuring foreign investors to refrain from investing in the country," he stated. "We are aware that equity markets are subject to fluctuations based on different assessments presented periodically."

The NDA secured 293 out of the 543 Lok Sabha seats, significantly lower than expected. Gandhi's Congress-led opposition INDIA alliance claimed 232 seats, surpassing predictions.

The Securities and Exchange Board of India (SEBI), the market regulator, did not immediately respond to a Reuters news agency email seeking comment.

An insider familiar with the situation revealed that SEBI was scrutinizing share trade patterns before the exit polls and election results for any suspicious activities.

Modi's office, a member of Shah's team, and a BJP spokesperson did not promptly respond to messages requesting comments.