Mumbai: SEBI chief Tuhin Kanta Pandey on Monday appealed to the investor community not to panic in the current volatile geopolitical situation even as markets are falling and said it is important not to be too worried at this time as India’s economic fundamentals are strong.The top markets regulator acknowledged that global markets are experiencing turmoil and instability stemming from the war in West Asia, which is causing the closure of vital shipping lines, which is hitting oil and gas supplies and prices. Pandey said, “Like the rest of the world, India has also been deeply affected by such developments. Yet, amidst such uncertainties, India’s domestic fundamentals remain strong, providing resilience. It is important not to panic at this time, but to remain calm amid this storm.” The Sebi chief was speaking at a function celebrating the 30th anniversary of the Nifty 50 index at the NSE headquarters in the city.“Nifty has gone through many such phases of uncertainty, volatility and global shocks over the last 30 years. And yet, in the long run, it has been reflecting the strength and resilience of India’s growth story,” Pandey said. He said that the emergence of the benchmark index should be seen in the context of the changes taking place in India’s financial markets in the mid-1990s.
