Sensex Reached a Thirty-two Month High

The Bombay Stock Exchange benchmark index, Sensex, on 21 Sept 2010 moved above the 20000-mark for the first time in 32 months. Sensex barometer closed 95.45 points up at 20001.55, which is its best closing since 15 Jan 2008 when the Sensex had closed at 20251.09. National Stock Exchange benchmark index Nifty crossed the 6000 mark to close at 6009.05, up 28.60 points. According to market analysts, the rise was made possible by strong inflows from overseas fund houses, which have made a net investment of over Rs.71000 crore in domestic stocks in 2010. The closing of Sensex and Nifty at 20001.55 and that of Nifty at 6009.05 marked the third straight session of gains. The gain was fuelled by a smart gain in blue chips like L&T, HDFC, HDFC Bank, TCS, Infosys and BHEL.

Asian stocks in general rose after U.S. homebuilder Lennar Corp posted better-than-estimated profit, boosting optimism in the economic recovery worldwide.