“The public in general is advised not to fall prey to or be lured by such sources of information (websites, television channels etc.) promising quick gains and unrealistic high returns,” Securities and Exchange Board of India (Sebi) said in a release.
The market regulator said it has observed a proliferation of websites offering investment tips to gullible investors.
“Many of these websites offer investment advice not backed by any reasonable basis and prima facie appear to be misguiding,” it added.
Sebi has said investors should take well informed investment decisions and deal only with Sebi registered intermediaries.
The market regulator also cautioned investors against making investments based on market rumours or unconfirmed or unauthentic news. The regulator said investors should not take the advice on television or in newspapers as the word of the channel or the publisher.
“Do not be unduly influenced by Bull Runs or Bear Runs while making investment decisions,” the regualtor added.
Published 10 February 2010, 15:50 IST