The Hindu Business Line : Not a cause for worry: Chidambaram

ASSERTING that the Government and the capital market regulator were keeping a close watch on the domestic bourses, the Finance Minister, Mr P. Chidambaram, today said that the Sensex crossing the 8,000 points level was not a cause for "worry or concern." He, however, advised investors in the stock markets to take informed decisions.

"Sensex rise is not a cause for worry or concern. Stock market movement is orderly," Mr Chidambaram told newspersons.

Stating that the second quarter results of business houses and banks are expected to be as good as the first quarter results, the Finance Minister said that the Sensex crossing the 8,000-mark also showed that business confidence was very high. "We are still in comfort zone," he said.

Noting that the price-earning ratios of both the Sensex and the Nifty were at present hovering between 14.5 per cent and 15.5 per cent, Mr Chidambaram said "at this level, they look comfortable."

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