Indian Equity Markets Stable Amid Global Turmoil: Sebi Chairman

Mumbai, Mar 24 (PTI) Sebi Chairman Tuhin Kanta Pandey on Monday said Indian equity markets are not so volatile despite the turmoil being witnessed across the world.

He said the volatility index (VIX) value in India is less than 14 at the current juncture, which is about the same level as in September last year.

"Normally in the kind of turmoil that we are seeing in the world today, you would have anticipated far more VIX than currently," Pandey told reporters in his maiden interaction with the press since assuming charge as the chairman.

He also pointed out that after the corrections in the last few weeks, the Indian markets have also seen some buyer interest over the last few days.

Pandey also said that on the issue of having adequate number of independent directors as mandated for listed companies, Sebi will continue to press the government to make the necessary appointment.

Some progress has happened on the issue of minimum public shareholding in listed state-run firms, and the capital markets regulator will engage with the relevant government departments to bring down the number of companies which are yet to meet the norms, he said.

He added that some of the companies are not in good shape which would lead to a lack of interest among buyers even if the government were to offload stake.