Opinion - Letters to the Editor   

Record fall

Monday's record crash in the stock market took along with it the dreams of many small investors. The market, however, recovered after government-backed institutions pumped in money. It is better for the people to adopt a positive approach to the stock market.

M. Krishna Chaitanya,
Visakhapatnam, A.P.

Although a correction was expected after the biggest bull run in the history of our bourses, the extent of the fall was unexpected. If the market falls over 1,100 points within minutes of opening as it happened on Monday, there would be no market to write about the next time around.

C.S. Iyer,
Pune

Looking at the rise and fall of the market, it is foolish to believe that it is a barometer of development. The so-called investors are not interested in development. They are real-time gamblers. How much the stock exchange boom has added to the GDP is a moot point.

R.G. Bhandiwad,
Dharwad, Karnataka

Investing in stocks is a risky business. Why blame the Government when the stocks fall rapidly? What needs to be investigated is whether a few brokers and investors caused such a steep fall deliberately to create a situation that propels selling rather than investment.

D.B.N. Murthy,
Bangalore

If, as Union Finance Minister P. Chidambaram maintains, the economic fundamentals are robust, the market would have stabilised after the long-expected correction. But of course the speculators would have lost a lot of money during the correction. It is odd that that the Government, which has rarely shown any urgency in tackling the economic misery of the common people, is in such a hurry to protect the speculators from financial losses.

K. Vijayakumar,
Bangalore

The Securities and Exchange Board of India (SEBI) should tighten up its monitoring mechanism. The Minister should present a White Paper in Parliament on the whole issue and also spell out the action the Government proposes to take to avoid such crashes in future. Unless the small investors are reassured, there is bound to be continuous selling in the market.

K. Murlidar,
Chennai

It is hoped that the Government and the SEBI will allay the fears of investors and instil confidence in them to mitigate the fallout of the record crash on the economy.

M. Jeyaram,
Sholvandan, T.N.

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