Sensex rises above 21,000 for first time since Nov 2010

Sensex rises above 21,000 for first time since Nov 2010

Current Sensex key level 20,785

The BSE Sensex reached the key level of 21,000 on Thursday for the first time in nearly three years, on better-than-expected corporate earning trends and continued strong inflows from foreign funds.

 

The benchmark BSE Sensex touched 21,039.42 before slipping back. The last time it was above 21,000 was on November 8, 2010. The index's all-time high is 21,206.77, hit in January 2008.
India was the best performing market in Asia on Thursday, with shares up 0.9 percent at 1127 am. Shares have been benefited from a return of global risk appetite as poor U.S. data has pushed back expectations of any tapering of the Federal Reserve's monetary stimulus until 2014.

Foreign investors have continued to buy local shares, remaining net buyers for a 14th consecutive session. Provisional exchange data showed a net purchase of 6.44 billion rupees on Wednesday, bringing the total to about 117.34 billion rupees during that period.
Major corporates such Infosys Ltd. (INFY.NS) and Larsen & Toubro (LART.NS) have reported better than expected earnings in the September quarter, helped by improved export earnings.

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