SEBI chief meets PC, regulator keeping a vigil
FM maintains that the stock market boom reflected business confidence and strong fundamentals of the economy.india Updated: Feb 07, 2006 15:41 IST
Maintaining that the stock market boom reflected business confidence and strong fundamentals of the economy, Finance Minister P Chidambaram on Tuesday said the regulator SEBI was keeping a vigil on the market movement with the Sensex crossing the 10,000 mark.
But at the same time, he advised investors to take informed decisions or invest through mutual funds.
After meeting SEBI chairman M Damodaran here today, the finance minister cautioned investors saying: "Do your research and invest cautiously. If you can't, invest through mutual funds or other intermediaries."
He said SEBI was keeping a close vigil on the market movements. "Surveillance is part of SEBI and it was precisely why we had a meeting," he said.
Elaborating, Damodaran said the regulator was not less vigilant when Sensex was at 9,900 and more vigilant when it is at 10,100. "We are keeping vigil. But I would advise investors to take informed decisions."
He declined to comment on the Ambani feud, saying: "I don't talk on individual case."