Record high for Indian stocks

Source: Stock Market Digital

Date :26/09/2007 15:09:18

India's main stock index, the Sensex, has reached a record high

The benchmark index rose 0.7 percent to reach 17,013 points touching a high of 17,073 levels in intra-day deals.

It is the fastest ever 1,000 point gain for the Sensex - achieved in just six trading sessions - and comes a day ahead of the F&O expiry.

Gains

Indian financial analysts believe the gains that the gains are likely to continue, after massive inflows of overseas capital and corporate earnings.

Information technology stocks have made the greatest gains after days of weakness.

Major technology companies Satyam Computer Services and Wipro each made significant gain, rising four percent each.

Underpinning the stock market has been foreign demand for Indian shares, as investors try to tap into one of the world's best-performing economies.

Foreign funds have invested almost $10 billion in Indian stocks since the beginning of this year, and the foreign fund inflows are expected to rise following the US Federal Reserve’s cut in interest rates last week.

September 26 2007

Related Links

Sensex