Conduct enquiry in to the stock market melt down: Ramdas Agarwal

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Jaipur, Jan 23(UNI) Senior BJP leader Ramdas Agarwal has demanded an inquiry into fluctuating fortunes of the investors in the stock market in India.

Participating at a Meet the Press programme organised here at the Pink City Press Club today Mr Agarwal demanded that an enquiry to unearth the reasons for the biggest shock in the stock market of this season in the last few days.

Mr Agarwal said during the NDA rule, the Opposition Congress and present Finance Minister P Chidambaram had spearheaded a campaign for the resignation of then Finance Minister Yashwant Sinha and SEBI Chairman D R Mehta for a fall of 350 points in Sensex and demanded that the role of the foregin investors and the big guns of India in the melting of the stocks to be investigated.

He said for stability in the stock market there is reason for the Indian government to limit the role of the Foreign investors in the stock market in India. Prima faice it seems the withdrawal of money by the Foreign Investors from the Indian market to off set the the global melt down seems to be the main cause for the fall of the Indian market emphasised the need for regulatiing the foreign investors in India to save the Indian retail investors from high volatility of the stock market, he added.

''Till March 2006 investment of foreign investors has been to the tune of 13.6 which was approximately 40,000 crore which has been more than doubled in the last one and half years leaving the Indian investors at the mercy of the foreign investors,'' said Mr Agarwal.


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