Finance Minister P Chidambaram has attributed the sharp fall in the stock market to the plunge in the Asian markets, but said it was not a cause for concern.
When this government took over, the benchmark index was near 4,400 and it is on either side of 15,000 now, the Finance Minister said against the backdrop of the over 430 points fall in the benchmark Sensex in morning trade.
The Finance Minister''s comments assume importance in the wake of market plunging from its peak of 15,868 by around 1,100 points in a fortnight.
Asked to comment on the three major falls the market suffered in the recent past, Chidambaram said: That''s because the Asian markets are down. We are part of the globalised economy today. If there is a downturn in one market, it will affect other markets.
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