I do not let markets affect me: Sitharaman says as Sensex dips 800 points

Sensex dipped nearly 800 points on Monday. Finance Minister Nirmala Sitharaman said at the Budget Roundtable that she doesn't let the markets affect her.

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As the Sensex tanked nearly 800 points and Nifty lost 250 points on Monday, Union Finance Minister Nirmala Sitharaman said that she does watch the market but it doesn't bother her.

Speaking at the India Today Budget Roundtable, which was attended by the who's who of India Inc, Sitharaman said, "I do track the markets but I also keep moving. I don't want them to affect my calms."

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This comes on a day when the Sensex tanked 792.82 points to end at 38,720.57 and Nifty went down 252.55 points to 11,558.60.

The markets reflected Monday morning's negative sentiments in Asia where markets slumped due to a sell-off triggered by strong US jobs data, which faded hopes of an aggressive rate cut by the US Federal Reserve.

The markets were also reacting to Friday's Union Budget, which proposed increasing the minimum public shareholding in listed companies to 35 per cent from 25 per cent.

Asked if the markets do not bother her at all, Sitharaman said, "I think it will take a while for me to get too carried away by that."

Speaking on increased tax on the super rich, Sitharaman said that the country needs contribution from everyone, while adding that she does not agree with people who claim that it is robbing.

"This country needs a bit more contribution from all of us. I am certainly not in agreement with people who have told me this is robbing," Nirmala Sitharaman said.

In another statement, Sitharaman said that it is a lot easier to deal with the armed forces than the industrialists. She was talking about her previous assignment as the defence minister.