RBI and market regulator SEBI on Sunday, said that that they are ready to take appropriate action while keeping a close watch on financial markets and needs. Due to the fall in the market, the investors got Rs 5.6 lakh crore.
The two regulators issued separate identical statements on Sunday in the wake of the sharp fluctuations in the markets on the commencement of trading on Monday next week.
Sources said that Sebi has sought information about the big deals on Friday exchanges and has kept an eye firmly to prevent sharp decreases in market-moving.The market has been declining for the fourth consecutive day.Meanwhile, there have been reports that some mischievous elements are deliberately trying to destabilize the market to spoil the image of the government. Housing finance companies fell sharply on Friday. Due to the fears of cash crisis, the shares of DHFL declined by 42 percent. Market regulator Sebi on Friday revised KYC regulations for foreign portfolio investors.
Foreign investors have withdrawn Rs 15,365 crore (2.1 billion dollars) from Indian capital markets so far this month. While in August and July the investors had invested in the market. The key reason for the withdrawal of FPI on the global front is the growing stress on the trade front and the current account deficit concerns are being reported.
At the same time, due to the fears of a tension on the trade front, the sharp decline in rupee exchange rate was recorded in the past. However, the rupee climbed 17 paise to 72.20 against the dollar in the trading day on Friday.
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