Friday, November 10, 2006

Divali in Nasdaq






the seven storeyed tower in new york's famed times square was swathed in triranga on the occasion of divali.unprecedented.yes? so was the sensex in mumbai that came close to the 13k mark.and in tandem the dow sailed passed 12000.for the first time in history.decline in oil prices and corporate earnings set both the bourses on fire.the latest news is that the sensex has crossed 13k and now it is set to achieve greater heights in 2007.maybe about 15k in another six months' time.if the economy does well,the half-yearly results are likely to be better,and if there are no external factors like oil prices,war etc., to dampen the sensex spirits.

it is a distinct possibility.

3 comments:

Lulu said...

it's amazing how far the sensex has reached. i remember that when it touched 4000 almost ten years ago, that was such a big deal! how times change..

gs said...

it is the reflection of the economic boom.though p/e of the favourite scrips is very high,the fiis are being attracted in hordes like bees.indian business and entrepreneurship is on a roll.take for instance the latest announcement of a jv between renault and mahindras to invest one billion$.and renault's decison to set up a 100% owned powertrain units(engine and transmission) for automobiles in india. stories like these act as catalysts for the sensex and nifty rise.

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