Market sustainability due to retail participation: Damodaran
17 Nov 2006
Sebi Chairman, M Damodaran is in London, where he addressed a special gathering at the House of Lords, reports CNBC-TV18.
On a day when the Sensex crossed the 13,500 mark, the chairman of the market regulator Sebi, M Damodaran, delivered a special lecture in the House of Lords in London on transforming India's stock market for sustainable growth. He said that the BSE now ranks sixth in the world in terms of the number of trades and this reflects the growing retail participation in the Indian markets.
"If we are talking about sustainability, if we are talking about lessening foreign dependence, clearly the retail domestic presence is significant. That is something we are working on and that is clearly being reflected in the growth of the Indian market," said Sebi chairman, M Damodaran.
On FDI in stock exchanges, the chairman refused to specify a limit but said that the policy would be announced shortly.
"There has been a lot of consultation on what should be the limit. We can't wait for too long. If we leave it for long, the investors may lose interest. Our understanding is that it will be announced anytime now," he said.
The chairman also highlighted other initiatives by Sebi, specially the new integrated market surveillance system, which will be operational from December 1.
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