31-10-06
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Stock Markets - touching new heights
Stock Markets - touching new heights
As Indian economy is poised at the most favorable stage, the stock markets of India have been the most encouraging; registering India's emergence as an economic power in the global markets.
Here is a news extract seeking your comments on the same.
Quote:
Indian markets rose to all-time highs, lifted by telecom stocks and heavyweight Reliance industries.
The Bombay Stock Exchange's 30-stock Sensitive Index, or Sensex, closed up 117.45 points, or 0.9 percent, at a record 13,024.26. On the rival National Stock Exchange, the 50-stock S&P CNX Nifty rose 29.75 points, or 0.8 percent, to end at 3769.10.
The Sensex has already risen nearly 38.5 percent so far this year, having gained 42 percent in 2005 as foreign investors continued to invest in India's economic growth story.
The surge crossed all industry sectors, with investors optimistic about the country's economic potential. India is one of the world's fastest-growing economies, expanding at close to 8 percent a year.
The market has sharply recovered after plunging 30 percent in May and June. The index fell as low as 8,799 points on June 14 amid panic-selling driven by worries about a global slowdown and concern that Indian stocks were overpriced.
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Source: chron.com (Oct 30'06)
Last edited by Kevin; 31-10-06 at 10:49 AM.
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