Sumber: Indonesiancompany.com
New Delhi, Jan. 21 The Government has said that the
stock market fall of Monday reflected the continuing
uncertainties in the global economy and not any
change in the fundamentals of the Indian economy.
Reiterating that the fundamentals of the domestic
economy are quite strong, the Finance Ministry said
in a statement this evening that investors should take
informed and responsible decisions in the situation
and not be led by market rumours or any unwarranted
apprehensions.
Most of the apex industry associations echoed the
Governments viewpoint, stating that weakening
sentiments across major markets of the globe, not the
fundamentals of the Indian economy, appear to have led
to the steep fall in the Indian stock markets.
The Finance Ministry statement highlighted that most
of Asia opened the year 2008 on a weak note with heavy
selling pressure seen in most markets. Comparing the
major Asian market indices as on January 2, 2008 with
their closing today, it is seen that the Straits Times
index has fallen by 14.75 per cent, Hang Seng by 13.58
per cent and the Nikkei is down by 9.29 per cent. The
corresponding figure for BSE Sensex was 13.97 per
cent, the statement added.
On Monday, the BSE Sensex had fallen by 1,408.35
points or 7.41 per cent and the NSE Nifty closed down
496.5 points or 8.7 per cent.
As regards the domestic economic conditions, the
Finance Ministry statement pointed out that the Prime
Ministers Economic Advisory Council had in its just
released review of the economy 2007-08 estimated the
rate of growth of GDP in 2007-08 at 8.9 per cent,
marginally lower than its previous estimate of 9 per
cent in July 2007.
Regards
Rita
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