The Securities and Exchange Board of India on Tuesday said it was analysing data to find out the reasons behind last week's stock market crash and a report would be submitted to the new government after the probe was completed.

Sebi Chairman G N Bajpai, who called on the new Finance Minister P Chidambaram on Tuesday, had a 30-minute-long meeting to brief him about the markets.

"We are yet to analyse the data. It will be too premature to say anything now," Bajpai said, when asked whether the markets were manipulated after the Lok Sabha poll results were out.

He declined to give a time frame within which the market regulator would complete the probe and submit a report.

Sebi will submit a report "as and when the data is analysed," Bajpai said.

The Sebi chief, however, sought to allay fears of any crisis in the market, saying, "There is no payment crisis. Our markets are one of the safest in the world."

Bajpai declined to give details of the meeting saying it was a "courtesy call" as Sebi was a functionary under the finance ministry.

The meeting assumes importance in the wake of a sharp fall in share prices in the last week that had wiped off more than Rs 1,00,000 crore (Rs 1,000 billion) of shareholders wealth.

Yesterday, Chidambaram said that the Sebi was looking into the reasons behind the market crash and would continue its probe even after the markets have cooled down.

Soon after the Lok Sabha poll results were out, the stock markets fell sharply as investors feared a reversal of reform and divestment process during the regime of the new Congres-led government.

On May 18, the BSE Sensex crashed by over 880 points but closed more than 560 points lower.

Trading had to be suspended twice on that day as investors offloaded stocks in panic.

The government asked Sebi to look into the matter to find out whether there was any case of market manipulation by a section of investors.

The markets, however, propped up after the new United Progressive Alliance appointed Manmohan Singh as the prime minister and P Chidambaram as the finance minister.