Mumbai: The BSE benchmark Sensex shot up by over 135 points to regain the magical 20,000-level in the opening trade today for the first time since January 17, 2008, on spurt in buying of oil and gas, capital goods and banking sector stocks.
The 30-share index of the Bombay Stock Exchange surged by 135.42 points to 20,041.52 in the opening trade, for the first time since January 17, 2008. All the sectoral indices were trading with gains up to 1.30 per cent.
Similarly, the wide-based National Stock Exchange also crossed the crucial 6,000 points to trade 36.40 points higher at 6,016.85 points.
Both indices have regained these levels after almost 32 months. Analysts said sustained inflows of overseas funds, bolstered by fast expanding economy, helped indices to touch the 32-month high.
Finance Minister Pranab Mukherjee says Sensex is unpredictable but happy to know that it has topped 20,000. "Sensex is always little bit unpredictable, so there are many other factors. Sometimes it's also corrected but I am happy that I think that after 2008 Jan for the first time it's reached 20,000," he said.
Deputy Chairman of the Planning Commission Montek Singh Ahluwalia says economy is in good shape and Sensex touching 20,000 reflects the strongest growth prospects of the economy.
"I do think that the real economy is in good shape and probably the rise in Sensex reflects the inflow of foreign capital into the stock market. Basically reflecting the much strongest growth prospects of the economy. I think growth prospects are quite good and that is the good sign," Ahluwalia said.
Comments
0 comment