E-Paper
FM terms market meltdown as correction
Chidambaram termed the steep fall in the stock market as a correction triggered by factors, including a fall in metal prices.
Published on: May 16, 2006, 13:21:00 IST
Share via
Copy link
Finance Minister P Chidambaram on Tuesday termed the steep fall in the stock market as a correction triggered by factors, including a fall in metal prices.
"I will put it as a correction provoked by reasons which are quite understandable.
"All metal prices are down and there is some impact of cement prices... And increase in US Fed rate. All markets are doing the same," he said.
The Bombay Stock Exchange benchmark Sensex on Tuesday continued its fall for the fourth successive session and tanked 438 points at noon.
Check India news real-time updates, latest news on Hindustan Times and more across India.
