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Sebi alert to any 'unusual' market movement

November 14, 2003 19:04 IST

Market regulator SEBI on Friday said it was on the watch out for any 'unusual' movement in the market and has been carrying out investigations on those responsible for market misconduct.

"I am on the watch out. SEBI does not look at numbers (rise in Sensex above 5,000 mark) but we watch the unusual movement," Securities and Exchange Board of India chairman G N Bajpai said after a book release function in Mumbai.

He said the regulator has started investigation on those breaking the rules and ensured that risk containment measures are in place.

"We are proud of the risk management system. It is world-class and comparable with the best markets," he said.

He attributed the rise in Sensex to the strong fundamentals of the market and economy.

On the surge in inflow of foreign institutional investments, he said "I have made full disclosure about the inflows. But any unusual movement will be looked into."

FII inflow increased to $6 billion in the recent times.

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