Stock market movement orderly: FM

Finance Minister P Chidambaram today said the movements in the stock markets were orderly and the trend would continue for long.

Chidambaram said the recent buoyancy in the markets reflected the fundamentals of the economy. "We should not get exuberant when the Sensex moves 100 points. What we have to watch is whether the movement is orderly or not," the finance minister told reporters here.

On Tuesday, the 30-scrip BSE Sensex breached the 9,000-mark. It closed at 8,931 today.

"In my view market movements up and down are in an orderly manner. The long-term trend of the market is that it will remain in an orderly condition," Chidambaram said.

Asked about the rupee, Chidambaram said the two-way movement of the Indian currency was in an orderly manner and the Reserve Bank of India had also said that the movement is orderly.

"What we have to carefully watch is the real effective exchange rate," he added.