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Finance Minister P Chidambaram issued a statement that there is no plan to ban P-Notes issued by FIIs to their clients and sub accounts. Finance Minister said that there is no reason for alarm. The markets are trading near their all-time highs, but there is nothing to worry. The valuations of Indian Stocks are still looking good as the companies are showing decent growth in numbers.

The recommendation of SEBI caused biggest ever intra-day fall in stock markets. Securities and Exchange Board of India recommended on Tuesday evening that the P-Notes to be removed over a period of time.

Today, the Indian Stock markets could not find any support. The markets were down by nearly 10% and NSE Nifty touched a low of 5107. The markets were closed for one hour. As 51% of FII investment was through P-Notes, it was very obvious for the markets to witness a downfall.

After the crash markets witnessed today, the stock market analysts suggest small investors to stay away from markets for next few days. Finance Minister has issued a statement regarding the market crash and has said that aim of market regulator is to keep markets safe. Stock markets have seen very quick rise in recent two months and valuations seem to be over-stretched.