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Market regulator SEBI on Tuesday allayed fears of the US financial crisis affecting Indian markets, saying there was no panic as it was monitoring the situation very closely.
SEBI Chairman C B Bhave made statement just before his meetings in North Block.
"There is no panic in Indian market and we are monitoring the situation closely," he said in New Delhi.
Within minutes of Bhave's statement, the stock markets recovered early losses as the BSE Sensex was ruling at 12,397, down by 197 points.
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