Market Meltdown

This letter was published in Today's Deccan Chronicle, Bangalore edition in BOLD.

There has been a lot of turbulence in the global market in recent times (Global bailout nears $2 tr, Oct. 6). The global market is strongly interlinked and any disturbance in one area tends to send ripples across other markets.
In the case of the US or the UK, the ripples are stronger as these financial houses are large and the volume of transaction is huge. There is always a connection between currency and the shares transacted, as the currency used represents sale or purchase.
In India too, people are rushing to sell their investments ignoring the fundamentals. The Indian economy is resilient, sufficiently insulated and is attractive which even our finance minister has acknowledged.
Most market experts feel that the current turbulence is temporary and not a complete meltdown. SRIKANTH SHANKAR MATRUBAI
Bengaluru