The Sensex on Tuesday crossed the 11,000 mark in early trading on the Bombay Stock Exchange, on heavy buying by foreign and domestic funds. The 30-share benchmark index (Sensex), gained 60.39 points to trade at 11001.50 in first ten minutes of trading mainly supported by blue chips in FMCD, software and pharma sectors. The Sensex covered the journey from 10,000 to 11,000 in 29 trading sessions. Similarly, the National Stock Exchange’s Nifty also gained 22 points to touch a new high of 3,287.60 points.
A sharp drop in international oil prices and expectations of robust economic growth triggered strong buying interest this morning. The statement by the finance minister that the Apex bank would soon announce steps to make the rupee fully convertible against all currencies has also boosted the sentiment to a marked extent on the bourses.
What is your say? Is it beneficial to India or is it the calm before the storm? use comments.
Source: Rediff.com & sify.com
I love the stock market the way it is but is it good? there is lot to ponder on it. well lets hope it goes well for the country
PM announced the liberization of rupee further. lets hope all this help in the betterment of India?
ya, its going well 4 the country. as i am in denmark, i can tell u one thing, here the pharma sectors r really afraid of the competition from indian companies producing drugs cheaply bcaz of the cheap labor force, n most recently i have seen many managers from quite small scale pharma companies here in copenhagen invited to conferences of some big companies, they probably want to merge them so that they can somehow produce in india n sell worldwide, well anyway it will benefit both the sides
That’s definately a good sign. The Indian economy is considered “Warming up” and not even at a point of heating as China. Moreover, this gives a very strong signal to investors around the world that Indian banking and finacial sector is well regulated and transparent and capable of holding large investment portfolios.
Hail to India!
hey guys thats good to here.
sorry hear.
i say it is the calm before the storm. stay braced up a big tumble soon. we are growing well but the deficiet is more. We need more investment in infrastructure , communication etc. make it more availble