01-21-2008, 08:47 PM
<b>Sensex tumbles; Govt blames global risks, says Indian economy fine</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Stock market benchmark Sensex on Monday nosedived 1,408.35 points, its biggest single-day loss, as bourses across Asia as well as Europe went into a tailspin on fears of a possible recession in the US economy.
The downslide for the sixth straight day prompted government to caution investors against market rumours, while blaming global uncertainties for the fall.
"Orderly growth of the capital market is a priority of the government. I want to assure the citizens of India that sustained growth of the market is a priority," Prime Minister Manmohan Singh told reporters in the evening. Fundamentals of the Indian economy remain strong, he said in New Delhi
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The downslide for the sixth straight day prompted government to caution investors against market rumours, while blaming global uncertainties for the fall.
"Orderly growth of the capital market is a priority of the government. I want to assure the citizens of India that sustained growth of the market is a priority," Prime Minister Manmohan Singh told reporters in the evening. Fundamentals of the Indian economy remain strong, he said in New Delhi
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