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Mr K.V. Kamath , MD & CEO, ICICI Bank, with Mr Kirit Somaiya, MP and President, Investors Grievances Forum (IGF), at the Small Investors Awareness Mela & Convention in Mumbai on Thursday. - - Shashi Ashiwal

Mumbai , Nov. 20

THE SEBI Chairman, Mr G.N. Bajpai, today said small investors seemed to have become more informed about the stock market as they had sold shares in the rising market this year.

"The key to investor education is that investors should take informed decisions and this is seen from the small investors taking advantage of the rising stock market to offload their holdings," Mr Bajpai said, while addressing the Investors' Mela organised by the Investors Grievances Forum here.Mr Bajpai said, in the past, one has seen investors who have entered the market at its peak and exited as the market came down. However, this time it is the reverse, he stated.

A look at the shareholding pattern of some of the index heavyweights also shows that the Indian public category of shareholders has reduced its holding between April and September this year, when the stock market witnessed its major rise.

For instance, in the index heavyweight Reliance Industries, the public holding has come down from 17.29 per cent to 15.44 per cent between April and September. Similarly in Hindustan Lever, the public stake has fallen from 21.25 per cent to 20.78 per cent. In the case of Infosys Technologies, the public holding has fallen from 10.59 per cent to 9.43 per cent. This trend is also seen in most of the index stocks.

Earlier, the ICICI Bank Managing Director, Mr K.V. Kamath, said Indian regulations are as strong as anywhere in the world and stressed for more investor education. In this aspect, he said, more investor melas similar to that organised by IGF should be held in various parts of the country.

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