FM keeps close eye on Sensex

Finance Minister P Chidambaram today said he expected the market to rise further with increasing investor and business confidence and assured that he was keeping a close watch on the market movements.

"I expect the Sensex to rise with the rise in investor and business confidence. However, Sebi and I are watching the movements very carefully to see if there is any manipulation," he said, replying to a question in the Lok Sabha.

"I do not worry and you should also not worry as long as the index movement is orderly. Sebi has assured me that the movement is absolutely an orderly one," he said.

Advising small investors to be cautious while investing in the stock market, Chidambaram said, "Unless you have knowledge about a particular scrip you should be cautious. Or try to invest through mutual funds."