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Coimbatore, July 3 It is possible for the Sensex and Nifty to touch new highs as the world economy is not performing well and global investors’ confidence in India could make them flock to us, said Mr Jose C. Abraham, Managing Director, Fortune Wealth Management Co. India (P) Ltd, Coimbatore.

But he hastened to add that the markets in India could retract a bit if the Budget disappoints the market. Speaking to Business Line here recently, he said there weren’t many economies performing well and “money flows in where money can make more money”. He said with increased focus on India resulting in high funds’ flow, there was “nothing that prevents our market from touching a new high”. The trading volume in the NSE has grown phenomenally and when trading volumes fall into a trend, they tend to continue. Because of the reasonable performance of the Indian economy, there could be increased capital flows which could push up the equity market, he said.

Asked how much easy liquidity could drive the markets up if economic performance did not back it up, Mr Abraham said companies’ share prices had to be supported by their corporate performance.

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