Sebi chief urges investors to stay calm amid global jitters

In light of recent global market fluctuations, Tuhin Kanta Pandey, the chairman of the Securities and Exchange Board of India (Sebi), has encouraged Indian investors to maintain their composure. Speaking at a National Stock Exchange (NSE) event, Pandey emphasized the importance of not succumbing to panic, citing India's robust domestic economic fundamentals as a stabilizing factor amidst current volatility. He noted a significant shift in the Nifty index's sectoral composition, with financial services and Information Technology now playing dominant roles. Additionally, he highlighted that domestic investors, including individual and mutual funds, account for approximately 36% of the free-float market capitalization of Nifty 50 companies, reflecting a growing trend of local investment in the equity market. On a related note, NSE CEO Ashish Kumar Chauhan announced plans to engage investment bankers for the exchange's impending initial public offering (IPO), which will feature a smaller public float due to the absence of a clear promoter, as permitted by the regulator.