While political uncertainty looms large, the stock indices ignored all such eventualities as the benchmark Bombay Stock Exchange 30-share sensitive index (Sensex) zoomed past the 18000-mark on Tuesday with the largest single day gain of 788.85 points. This is the second fastest 1,000-point journey, the period being nine trading sessions. The fastest 1,000-point rally was recorded when it moved from 16000 to 17000 in six trading sessions on September 26.
After a dull start, the bluest of the blue chip stocks led the rally and the Sensex closed at a new peak of 18280.24, up 4.51 per cent. While oil and gas and the information technology stocks gained in the rally, capital goods stocks such as BHEL and L&T made handsome gains. TCS, Infosys, Satyam and Wipro made gains, expecting good quarterly results, despite rupee appreciation against the U.S. dollar. The rally witnessed in oil and gas stocks were led by index heavy weight, Reliance Industries which gained 185 points. Among other Reliance group companies, Reliance Energy gained 104 points and Reliance Communications 93 points. Tata Steel gained 42 points and NTPC 39 points.
Source: Hindu
This development is transient and it wil not stay longer…India is great, Indian people are its asset and they were the curse as well. Its takes centuries for india to develop. I am not against india but this is wat I forecast, lets see how it goes. Hope it withstands the competetion with the big heads. These are just my views I ain’t against any one.