We are not disconnected from the world and therefore as global markets correct, our market will also correct, said Vikram Limaye, MD & CEO, NSE.
With the turmoil in the Indian equity market continuing, Vikram Limaye, MD & CEO, NSE assured the market participants that there was no reason for any panic or concerns with regards risk management systems related to the market.
"Settlements are happening in a disciplined way, margins are intact. People are putting up additional margins wherever required," he said.
He said the market is falling in-line with global markets. We are not disconnected from the world and therefore as global markets correct, our market will also correct, he said.
The fall of around 6 percent could be because of the recent sharp run-up in the Indian equity markets, he said.
He also said that SEBI is on the alert and is tracking the market closely. There are regular conversations between SEBI and exchanges to understand how markets are developing, where risk is building up and what needs to be done from a risk management perspective, he added.
According to him, the Indian market still continues to remain a preferred destination for global flows.
The recent correction is more due to global trends and so, India cannot be immune to global correction, he said, adding that it is less domestic in nature.
Talking about the long-term capital gain tax, he said the government has taken the decision after weighing all the pros and cons and the market will adjust to it.He also said, the exchange is being very diligent about the kind of companies that list.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.