Sensex zooms past 9000
After moving in and out of positive zones in morning deals, the index took-off by noon, and then there was no looking back. The Nifty gained 36 points to close above 2800.BSE clocked a turnover of Rs 3,731 crore compared to Monday’s Rs 3,522 crore.The 30-share BSE Sensex jumped 130.23 points to a lifetime closing high of 9,263.90. The S&P CNX Nifty rose 36.10 points or 1.3% an all time closing peak of 2,812.30
Market sentiment was boosted due to reports that the government intends to raise at least Rs 4,000 crore from PSU divestment. The government intends to raise about Rs 4,000 crore to Rs 5,000 crore from PSU divestment and it has identified 10 to 15 PSUs including National Aluminium Company, Shipping Corporation of India, BSNL, Power Finance Corporation, and Powergrid, for the purpose.
Meanwhile, an economic think tank today upgraded its FY 2006 GDP growth forecast to 7.6% from the earlier projected 6.8% following strong growth in the services sector.
With today’s rise, the Sensex has gained 357.59 points or 4% in the past three trading sessions to the current 9,263.90 from a recent low of 8,906.31 on 8 December 2005. On 9 December, the Sensex had surged 161 points in a single trading session boosted by the Bombay High Court's clearing private sector giant Reliance Industries' (RIL) demerger proposal.
Market sentiment remains good due to expectation of a excellent earnings and economic growth. There are hopes that the solid economic growth in India will transform into decent earnings growth for corporate sector. India's GDP grew 8% in Q2 Sep 2005 compared with the same period a year earlier led by strong output in services and manufacturing sectors.
Sensex
Market sentiment was boosted due to reports that the government intends to raise at least Rs 4,000 crore from PSU divestment. The government intends to raise about Rs 4,000 crore to Rs 5,000 crore from PSU divestment and it has identified 10 to 15 PSUs including National Aluminium Company, Shipping Corporation of India, BSNL, Power Finance Corporation, and Powergrid, for the purpose.
Meanwhile, an economic think tank today upgraded its FY 2006 GDP growth forecast to 7.6% from the earlier projected 6.8% following strong growth in the services sector.
With today’s rise, the Sensex has gained 357.59 points or 4% in the past three trading sessions to the current 9,263.90 from a recent low of 8,906.31 on 8 December 2005. On 9 December, the Sensex had surged 161 points in a single trading session boosted by the Bombay High Court's clearing private sector giant Reliance Industries' (RIL) demerger proposal.
Market sentiment remains good due to expectation of a excellent earnings and economic growth. There are hopes that the solid economic growth in India will transform into decent earnings growth for corporate sector. India's GDP grew 8% in Q2 Sep 2005 compared with the same period a year earlier led by strong output in services and manufacturing sectors.
Sensex
posted by Sensex-Blog Admin at 7:59 AM
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