Business

Sensex breaches 28,000 Mark for First Time

New Delhi, Nov 05: The benchmark BSE Sensex breached 28,000-mark for the first time and the NSE Nifty hit a new peak of 8,363.65 in early trade on Wednesday signalling the international market that India could be seen globally as a better destination to do business.

Indian stock markets have now gained over 7.5 per cent, or nearly 200 points, in the last 12 trading sessions and bulls seem firmly in control of the Dalal Street. Indian markets shed some early gains in afternoon trade on profit-taking. At 12:30 pm, the Sensex was up 33 points to 27,893 while Nifty was up 10 points at 8,333.

Several reasons could be analysed behind this surge in the BSE index.

The reasons are Japan has put in lot of liquidity into their economy, America has given indications that interest rates may not be increased, and Modi Government's efforts are drawing lot of positivity in international businessman, whether they are FIIs (foreign institutional investors) or FDI investors, or foreign businessman who merely want to do business with India, said a market expert.

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