Indian shares to scale new highs next week
Sunday, 4 November 2007
MUMBAI, Nov 3 (AFP): Indian share prices are expected to hit fresh record highs in the coming week on sustained overseas fund buying, though volumes could dip marginally during the Hindu festive season, dealers said.
They said fresh buying opportunities could emerge on declines, as concerns linked to a recent regulation for foreign investors and local and global interest rate cuts appear to have eased.
For the week to Nov 2, the Mumbai stock exchange's benchmark 30-share Sensex index surged 3.8 per cent or 733.06 points to close at 19,976.23.
It was a historic week as the benchmark Sensex crossed the 20,000 points level for the first time.
They said fresh buying opportunities could emerge on declines, as concerns linked to a recent regulation for foreign investors and local and global interest rate cuts appear to have eased.
For the week to Nov 2, the Mumbai stock exchange's benchmark 30-share Sensex index surged 3.8 per cent or 733.06 points to close at 19,976.23.
It was a historic week as the benchmark Sensex crossed the 20,000 points level for the first time.