Markets may turn nervous

The Sebi order on the IPO scam has come at a time when the stock and IPO markets are witnessing a Bull run. Analysts feel that the Sebi order may have a pull-down effect on the stock markets on Friday morning. 8216;8216;As such, bourses have been fluctuating widely as part of the so-called technical correction. With the Sebi order, volatility will rise in the short term. But the Sebi order won8217;t have any long-term impact on the market,8217;8217; said BSE dealer Pawan Dharnidharka.

The market could face initial knee-jerk reaction, but it will stabilise in a day or two, he said. Some of the operators feared that stringent action stipulated in the Sebi8217;s interim order could trigger a panic reaction overcoming the good corporate performance by blue-chip companies. 8216;8216;There8217;s nothing against the stock market in the Sebi order. Fundamentals are intact,8217;8217; said an analyst.