Finance Minister P Chidambaram, on Thursday, attributed the recent surge in stock markets to speculators and hoped “things will cool down soon” — a prediction reflected in the plummeting Sensex.
“To some extent speculators are taking advantage of the rise in the Sensex... Things will cool down,” he said.
Surprises me
Mr Chidambaram, who had cautioned retail investors when it crossed 18,000 points, said: “Sensex is an index of 30 stocks (and) as such it is a number. We don’t invest our future in Sensex.”
“Steep rise in Sensex sometimes surprises me, sometimes worries me. I do not think fundamentals change so rapidly day-to-day. Our assessment tells us Sensex is driven by copious inflow of funds,” he said.
