Swamy decribes sensex surge as 'artificial rise'

Discussion in 'Wall St. News' started by S2007S, Oct 17, 2007.

  1. S2007S


    Swamy decribes sensex surge as 'artificial rise'
    16 Oct, 2007, 2211 hrs IST, PTI

    TIRUCHIRAPPALLI: Janata Party leader Subramaniam Swamy today decribed the sensex crossing the 19k mark as an "artificial rise" due to "consistent rigging" of the Bombay Stock Exchange (BSE).

    Talking to reporters here today, he alleged that the BSE was consistently rigged and that the index rise was purely due to speculations.

    The influx of foreign currencies and the huge investments from "hawala money of politicians and terrorists" in the BSE was causing the artificial rise.

    The phenomenon has led to the strengthening of rupee, affecting exports, he said adding this was not a true reflection of the economic health of the country.

    He wanted the Government to ensure that foreign capital was accepted in lieu of free flow of labour.

    He also advocated a proper agriculture policy that provides for education of farmers on e-commerce.