Securities & Exchange Board of India (SEBI) chairman, C B Bhave chilled out the worries of the US financial crisis disturbing Indian stock markets, saying that there was no fear as Stock market regulator was examining the condition very closely.
Within minutes of Bhave’s report, the bourses recovered early losses as the BSE Sensex was ruling at 12,397, down by 197 points.
“There is no need for panic in the market. Our market is resilient. Our clearing system has proved to its ability to deal with stock market fluctuation,” Mr. Bhave said.
Mr. Bhave also said that at present, the conditions regarding short sale are that institutions are permitted to short sell only if they have borrowed the stock on the stock markets.
Mumbai, Sept 30: As an after-affect of the rejection of the 700-billion dollar bail out package by US House of Representatives, the Bombay Stock Exchange (BSE) benchmark Sensex plunged by 442 points to a two-year low of 12,153 in early trade today. 
BSE Sensex fell further to a two-year low of 12,153 on all-round selling by funds following refusal of the $700-billion plan by US House of Representatives.
Bangkok - Thai shares los
Hong Kong - Hong Kong shares plunged more than 6 per cent in the first minutes of trading Tuesday in response to news of the defeat of the 700-billion-US-dollars rescue plan in Washington.
Taipei - Taiwan stocks dropped nearly 6 per cent in mid-morning trading Tuesday, due to Wall Street falls caused by the US Congress failing to to pass the 700-billion-US-dollar bank rescue package.
