No panic seen on Indian bourses: SEBI chief

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New Delhi, Sept 30 (UNI) Market regulator Securities and Exchange Board of India (SEBI) Chairman C B Bhave today asked investors to remain calm, saying ''there is no panic in Indian bourses.'' The Chairman is currently in a meeting with the Finance Ministry.

He said SEBI is monitoring the stock markets closely and India will come out stronger once the global crisis ends.

SEBI will take action if entities were found breaking short sale rules, he added.

The Chairman feels the Indian markets are resilient and do not see selling by the institutions. The market settlement system is safe and sound.

Mr Bhave said he did not have concerns that institutional investors were short-selling stocks and added that no change in the rules governing short-selling was expected.

''The market surveillance system is already in place. There are no worries on that front. We have no apprehension that institutional investors are short-selling,'' he added.

UNI AR SSS MP BST1320

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