Indian Stock markets have touched a new high of 19,198.66. At 12.30 pm, BSE Benchmark Sensex was up by 400 points at 19,116. The stock markets bounced back from lows of yesterday very smartly.

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.