On Saturday Finance minister Pranab Mukherjee alleged that there is no reason for alarm on the stock market reaction to an Intelligence Bureau (IB) report.

The report showed that there has been strategy in certain stocks. He told the media after having a meeting of the Income Tax Department in Mumbai that there is no cause for panic on the market reaction. This is because the market has become stable and it has increased by more than 200 points.

He assumed that Sebi is there to investigate stock market reaction and he is not tensed about for the cause.

The Intelligence Bureau in recent times has supposed that there is a turn up with a report naming some operators as rumour has it spoil in price planning.

Last week there was a decline in the BSE benchmark index Sensex over 2% due to concerns over regulatory clearout on companies and an incomplete check out into the 2G spectrum scam.

The finance minister said that at this time of the year, Foreign Institutional Investors (FIIs) in general extract money because of their monetary year-ending.

He believed that they should memorize that at present of the year, FIIs take out money because of the year-ending as many of them have a scheme of closing with the calendar year.