Business Daily from THE HINDU group of publications
Wednesday, Jul 25, 2007
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Business Daily from THE HINDU group of publications Wednesday, Jul 25, 2007 ePaper |
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Stock Markets Markets - Outlook
M.V. Kaliprasad The markets have become hyperactive. We know of records being made and broken on the cricket field like the fastest century ever made, a bowler crossing 100 wickets so on. The Bombay Stock Exchange is on the threshold of creating history and create a record! The Sensex has taken a long time to cover the ground from 14,000 to 15,000. In fact, it rolled down quite a bit before climbing back. By the budget time, the market analysts predicted it to touch 15K but it lost heavily after the budget and slid to 12K. After hovering quite a bit, and causing anxious moments, (in fact there were debates whether the market would climb back from there or go in for a further slide down), it began the grand rallying and finally touched 15K just the other day. The fastest 1000 scored by the Sensex was in 1992 when the Big bull Harshad Mehta was active, when the market scorched from 3Kto 4K in just 16 days. It is 12 days since the market hit 15K. It has to cover another 150 points to scale the new peak of 16K. The question is will it be the fastest? It remains to be seen whether it touches 16K in less than 16 days and create a record of sorts. The author is a Hyderabad-based Chartered Accountant
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