Sarkaritel.com News and Features-Corporate News

Sensex achieves 13000 mark milestone

New Delhi October 30, 2006

After touching a staggering mark of 12,000 in September, the Sensex is on a continuous ride of the bullish market even now. This time soaring to the incredible 13000-point milestone in the Bombay Stock Exchange for the first time, Sensex has achieved this benchmark due to impressive corporate performance and the sustained economic growth.

Good performances at the micro and macro levels, boosting confidence, especially in large caps have enabled this rise. FII inflows have also contributed to the cause. Yield hungry foreign institutional investors continue to chase equities in India which has been a major driving force.

After the celebration all eyes are set on RBI as it is contemplating a hike in the interest rate to be announced today in its review of monetary policy, especially in view of the Sensex having achieved another historic milestone by crossing 13000 mark. There is no need to provide any extra incentive to attract larger FIIs at this point of time. With current rate of interest, RBI may allow the domestic investors to continue borrowing from the market at cheaper rate and undertaking larger investment, which would help Sensex to cross another milestone soon.

E-Mail : newseditor@sarkaritel.com