The Finance Minister P Chidambaram on Thursday said the benchmark Sensex crossing 8000 level was not a cause for "worry or concern" but advised investors to take informed decision. "The Sensex rise is not a cause for worry or concern. Stock market movement is orderly," Chidambaram said, asserting the government and market regulator SEBI were carefully looking at Price to Earnings (P/E) ratio of Nifty and Sensex.
Sensex breaches 8000-mark
Chidambaram, however, said he would like to suggest to every investor in the stock market that he should take informed decisions.
He said he expected second quarter results of business houses and banks to be as good as the first quarter results.
The Sensex journey: 1000 to 8000!
The Sensex, supported by blue chips like Infosys [Get Quote], Reliance Industries [Get Quote], Satyam [Get Quote] Computers Reliance Energy [Get Quote] and Tata Motors [Get Quote], quoted at 8008.51, gaining 61.73 in the first 30 minutes of trading.
Marketman said the Sensex took almost 55 days to travel to the 8000 level from the 7000 mark as foreign funds remained the aggressive buyers in index related shares.
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