Stock market will recover shortly: ASSOCHAM

New Delhi, May 19: Reacting on the downswing in the capital market, ASSOCHAM President Anil K Agarwal today said there was no cause for panic because the economic fundamentals are strong and the economy is on the right path.

''This unfortunate incident is the result of increase in consumer price index in the US coupled with misinterpretation of the prospective tax guidelines,'' he said.

The ASSOCHAM Chief hoped that the stock market would shortly regain its past momentum and therefore the investors should not unnecessary fear with the negative developments that the stocks have suffered.

UNI