Worried at the reports of the bear hammering of technology stocks in the market over the past week, the finance ministry has apprised the Prime Minister's Office about the developments.

Surprised at the sudden dip in the Bombay Stock Exchange sensitivity index (Sensex) following the profit warnings issued by infotech company, Infosys Technologies, on April 10, finance ministry officials said the PMO was briefed on the developments in the market, especially because Parliament was in session and there was a possibility of market-savvy members grilling the government on the issue.

Besides, the finance ministry is expected to submit its action taken report on the recommendations of the joint parliamentary committee probing the stock scam of 2000 in the current session.

Though North Block had been in touch with the Securities and Exchange Board of India to keep track of developments in both the Bombay Stock Exchange and the National Stock Exchange, officials said this was not a cause for worry.

Sebi is also reported to have sought data on stocks traded after the Infosys results were declared.

As a result of the profit warning by Infosys, the Sensex tumbled to a six-month low of 3,035.33 points. The Infosys stock also crashed 26.78 per cent to an eight-month low of Rs 3,044.60.

There were also reports that because of the free fall there could be a payments crisis on the stock exchanges for some time. In the stock scam of 2000, the initial crisis was created by a payments problem by some of the leading brokers in the Calcutta Stock Exchange.