New Delhi: Industry body Assocham has projected that the key index of Bombay Stock Exchange is likely to touch 20,000 mark by January, 2010, on the back of rising business confidence of investors and FIIs in India.
The chamber said that the National Stock Exchange may
also touch the 6,000 mark by that time next year.
"...indices of BSE and NSE would respectively touch
20,000 and 6,000 mark by January 2010 due to continuously
rising business confidence of investors and FIIs in the Indian
economy and more than expected financial performance of India
Inc in Q2 of current fiscal which is likely to go on in near
future too," it said.
Satisfactory growth in the industrial production which
rose to 10.4 in August will continue to drive the growth
prospects and favorably influence capital market
substantially in months to come, especially from November
onwards, it said.
Last time in January this year, the BSE benchmark Sensex
had touched 21,000 but due to the global financial crisis it
came down to below 8,000 in October. Currently, it is hovering
at over 17,000.
"Other factors that will positively move stock markets
will be through participation of rural folk in it because its
income has started going up and driving growth in telecom and
FMCG sector and more recently two wheeler segment has joined
these two sectors," it said.
Bureau Report
First Published: Tuesday, October 20, 2009, 17:24