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Business Daily from THE HINDU group of publications Friday, October 12, 2007 |
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News Update as at 16.00 hrs (IST)
Story of the Day Steep rise in stocks surprises FM NEW DELHI: The Finance Minister, Mr P Chidambaram on Friday expressed surprise over the steep rise in stock market barometer Sensex, which strangely appears to have lost steam. "Steep rise in Sensex sometimes surprises me, sometimes worries me. I don't think fundamentals of economy changes day-to-day. The Sensex is driven by corpus inflow of funds," he said while speaking at Hindustan Times Leadership Summit here today. Referring to speculators' playing in the market, he said: "To an extent speculators are taking advantage of Sensex... I think things will cool down." "The Sensex is an index of 30 stocks (and) as such it is a number. We don't invest our future in Sensex," said the finance minister. - PTI
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