brij srivastava

Indian Stock Plunge a Yearly Call

As per Chidambaram's statement in US that there are no more than 30 FII's who issue PN's in India out over 1000 FII's registered and he is on record saying that SEBI had been in touch with those FII's for past 10 days before the media made it public.Business channels which i watched just before openeing of trades were informing public confidently that the markets could crash 10% and then there would be a trading halt for one hour.Then again if there was further fall ,then again the trading would be halted.Markets opened and shut shop within A MINUTE.I find it very creepy.
I wonder why SEBI did not disclose this price sensitive information the moment they got in touch with FII's issuing PN,s.There was a gap of 10 days if we take the Finance Minister,s statement.
There is a loss of over a trillion INR of investor,s wealth.
Now the point i make here is....SEBI's deliberation with 30 odd FII's was on for past 10 days and market did not crash until the media broke the NEWS.One trillion rupee loss and market shutting within a minute of opening after news break shows the role of media in creating a mayhem.My personal view is Finance minister and SEBI were doing routine official work but it is the media who created this panic which lynched hapless traders and investors.In my case I have had enough of so called business channels in india.
Another thing which crosses my mind is that what's the harm in Finance Minister of India asking people to disclose identity...everyone investor in india does that.So whats the big deal?Besides SEBI gave 18 months to wind up incase foreign investors were not willing to oblige.