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Thursday, October 23, 2008

Don't sell stocks in panic: Chidambaram

New Delhi, October 23: : Finance Minister P Chidambaram on Thursday advised investors in equity markets to take informed decisions and not to act in panic.

"There is no reason for Indian market to go down just because the eastern markets are down...nobody should sell in panic," he said in New Delhi.

On the fall in rupee value, he said, capital is going out of the country because there are redemption pressure on FIIs back home.

Once these pressure eases, money will flow into the country in the form of ECB, FCNR, NRE.

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