As stocks and the rupee hit new low, market expert Akash Jindal told ANI that the main reason behind the Dalal Street's bloodbath are global factors, specially Chinese economy showing a poor data.
"The way th Sensex has crashed today and the Rupee has fallen is a reflection of the Chinese economy. Whatever is happening in China is reflecting in India. The data coming from the Chinese economy is quiet poor, and that has shown reflection in the world economy, including India."
"As an economist, I would like to say that nobody has to fear about investments, as there is no fundamental problems so far. So, investors should not worry about it, and they should not panic."
Earlier in the day , on continued volatility of the market, the RBI Governor Raghuram Rajan said that India is in a better position compared to other economies.
"While I don't want to opine on future directions of markets, I would say relative to other countries India is in a good position with strengthening growth, low current account deficit, narrowing fiscal deficit, moderating inflation, low short term foreign curreny liability," Rajan said.