No cause for panic, says SEBI, finance ministry

NEW DELHI/ MUMBAI: In a bid to soothe market sentiments, Sebi chief M Damodaran on Monday said there was no cause for panic and asked investors to invest carefully.

Senior Finance Ministry officials in New Delhi also said there was no cause for panic. The Ministry was monitoring the market and would take a view on the situation shortly, they said.

"There are no reasons to worry. SEBI is in touch with RBI and Finance Ministry... there is no liquidity problem," Damodaran said in Mumbai.

It is not unlikely that people float rumours in such situations, he said.

"My only advice to the investors is, make your investments decisions based on facts. There is no systematic issues related to today's movement in the markets," he said.