Financial Daily from THE HINDU group of publications
Tuesday, Mar 28, 2006
Financial Daily from THE HINDU group of publications Tuesday, Mar 28, 2006 |
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Markets
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Stock Markets Sensex on the Dow's trail BL Research Bureau
Chennai , March 27 The Sensex closed above the 11000-mark today and also moved within the striking distance of Dow Jones Industrial Average that closed at 11280 over the weekend. Powered by the euphoria for technology sector stocks, the Dow hit an all-time high of 11750, way back in January 2000. The domestic market sentiment too was on a high during that period and technology heavyweights Infosys, Satyam and Wipro powered the Sensex to a historic high of 6150.69 in February 2000. While both the indices hit a historic high within a span of about a month in the year 2000, they have charted a divergent set of pattern since then. The Dow has been confined to trading range of 4000 points and is yet to move past the high recorded in 2000. The Sensex, on the other hand, has moved up by about 80 per cent from the high recorded in 2000 and has more than quadrupled from the low of 2595 recorded in September 2001. The rally over the recent years has been more broad-based and propelled by old economy stocks in contrast to the run up to the 2000-peak, which was powered by the stocks from the information technology space.
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