Sebi chief urges investors to stay calm amid global jitters

Mumbai: Securities and Exchange Board of India (Sebi) chairman Tuhin Kanta Pandey on Monday urged investors to remain calm amid global market turbulence, saying India’s strong domestic fundamentals should help markets navigate the current volatility.

“It is important not to panic at this moment, but to remain calm amidst this storm,” he said at a National Stock Exchange of India (NSE) event on Monday.

Pandey said the sectoral composition on the Nifty has changed over the years, with financial services and Information Technology dominating the index currently.

The Sebi chief said individuals and domestic mutual funds together now hold about 36% of the free-float market capitalisation of Nifty 50 companies, underscoring the rising participation of domestic investors in equities.

Separately, NSE chief executive Ashish Kumar Chauhan said the exchange plans to appoint investment bankers this month for its initial public offering.

The regulator has allowed the exchange to proceed with a smaller public float as there is no identifiable promoter, said Chauhan on the sidelines of the event.