New Delhi, June 06:Exuding confidence over the strong fundamentals of Indian economy and companies, Sebi virtually gave a clean chit to the capital market on Thursday saying its 'integrity' was improving. "We have been improving the integrity of the Indian stock market after the slew of initiatives taken by the regulator and the stock exchanges," Securities and Exchange Board of India chairman, G N Bajpai, said at a press conference here.

He said the introduction of T+2 (transaction date plus two) settlement of shares and Straight Through Processing systems had ensured that no one was able to build an artificially huge position in the market.
Bajpai said the fundamentals of the Indian economy and companies were strong now as it reflected in the rise of the Sensex.
"As a regulator, we have to ensure that no one is allowed to destroy the efficacy of the market," he added. On the issue of investor protection, he said the regulator has initiated an Office of Ombudsman to redress grievances.
Bureau Report