Huge buying interest witnessed in Indian market on wednesday (14-Oct-09). After a gap of one day due to Maharashtra elections traders bought shares enthusiastically. It is believed that Indian bourses would witness more upsurge in the coming days.
Metals were the hot picks among traders. Dollar depreciation is the main reason behind it. Base metals showing more activity. Another reason for today's surge is the exit poll results in favour of congress party in Maharashtra. Indian Rupee appreciation also one major factor. More and more companies are posting positive results in september quarter this also played significant role in forming market sentiment.
India incorporated is out of recession. Index stocks are witnessing buying interest. When they become over priced there will be buing interest in the small and midcap space. Investors should concentrate in these sector now.
Sensex closed at 17231.11 up by 204.44 points and nifty posted gain of 63.95 points and closed at 5118.20. Both indices are at their 17 month peak.
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