Sensex at one-year high on budget expectations
By ANIWednesday, June 10, 2009
MUMBAI - The Bombay Stock Exchange benchmark Sensex surged over 434 points to 15,561.11 at mid-session on Wednesday an almost one-year high, on aggressive buying by funds on expectations that the government will increase public spending in the budget to boost economic growth.
There are reasons to believe that the recent strong rally might continue. For one, equity analysts are raising earnings forecasts of India Inc on hopes that the government will focus on infrastructure sector and push economic reforms to boost growth.
Finance Minister Pranab Mukherjee is likely to present the Union Budget with focus on ‘Aam Admi’ while providing special attention to sectors hit hard by global crisis.
The wide-based National Stock Exchange index (Nifty) shot up by 137 points, or 3.01 percent, to 4,687.95 at mid-session. (ANI)
