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Terrorists manipulating stock markets: BJP

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NEW DELHI: Viewing the recent fluctuations in the sensex with concern, BJP
suspects that some anti-national elements, including terrorists, may be
manipulating the stock markets and wants a probe to ascertain the
antecedents of investors.

Party President Rajnath Singh said his concern stems from the fact that up
to 40 per cent of investments in the stock markets were by the Foreign
Institutional Investors (FIIs) through PN (Participatory Notes) system.

“What kind of money, whose money, what colour is it? There is no
information, ” Singh said in an interview while referring to the recent crash
in the stock market leading to losses worth crores of rupees to small
investors.

“This has been happening for several years. There should be some system to
identify whose money is being invested,” he said, favouring a “tough law” to
monitor these investments.

His views echo the apprehensions expressed by National Security Advisor M K
Narayanan
about a year ago that terrorists might be pumping money with a
design to manipulate the stock markets.

Senior BJP leader L K Advani had also last week noted that there can be no
place for “manipulation, malpractices and misuse” of the system by any of
the players of the capital market and demanded that offenders must be
punished.

 

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