Tuesday, May 16 2006 14:47 Hrs (IST) - World Time -

New Delhi: Finance Minister P Chidambaram today (May 16, 2006) termed the steep fall in the stock market as a correction triggered by factors, including a fall in metal prices.

"I will put it as a correction provoked by reasons which are quite understandable," he said.

"All metal prices are down and there is some impact of cement prices and increase in US Fed rate. All markets are doing the same," he told reporters here.

The Bombay Stock Exchange benchmark Sensex today continued its fall for the fourth successive session and tanked 438 points at noon.