Indian and Chinese stock market performance
October 11th, 2007 - by 2point6billion.comLet’s see how the Indian and Chinese markets performed the last two days:
Sensex, BSE’s Benchmark Index surged to 789 points on Tuesday- the max in a single day to close at 18,280 points. It was the energy and telecommunication companies that led the rise, and we know its Reliance.
Watch its live graph here
Yesterday, the Sensex ended up 2% per cent at a record close of 18,658.25 after hitting a lifetime high of 18,703.67 during trade. 19,000 is not far away.
Head of research at Techno Shares & Stock said
“The market does look poised to touch 19,000. This is purely a liquidity play, which many of us have not seen in several years and this madness will continue till the liquidity lasts, and I would not be surprised if we witness a fall of 1,500 points in a day.”
In China, it was shares of banks, steel and winemakers that have soared the markets
The Shanghai Composite Index gained 23.13 point to 5,715.89 on Tuesday while next day it gained 55.57 points, or 1 percent, to 5,771.46.
The Shenzhen Composite Index rose 0.6 per cent to 1,551.19 on Tuesday while it fell 0.5 percent to 1,543.79 yesterday.
One of the Officals of Infrastructure Leasing & Financial Services Limited (IL&FS), an Indian Company, said
“Growth remains strong in India. While emerging markets overall are doing well, India and China have outperformed the rest. Foreign funds have no option but to get into emerging markets.”
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October 12th, 2007 at 4:04 pm
driven by sentiment. the PE figures are very stretched
October 12th, 2007 at 4:23 pm
The Indian markeet is overdue for a big fall or can say for correction. The day is not far away when it will again be back at 15000.