Thursday, February 09, 2006

Sensex @ 10000

After an anxious couple of days the sensex finally reached the much awaited 10000 mark this week. The road from 1000 in 1991, when the economy was opened to 10000 was quite a journey. With a 6% average growth in the early years the sensex reached 10000 in 2006. So, with the present 8% growth and much touted 10% in the coming years (sounds exciting, ain't it), it is surely gonna reach some height.

My friend, like many other people had pridicted the 10000 figure a couple of years back. Well, they have a bigger grin, every time I see them now. When I was told about the 10000 mark, few years back, the sensex had just collapsed after the congress had formed the government with Left support.That time I almost laughed (my ignorance). They surely must be laughing their way to the bank now.

Rakesh Jhunjhunwala, the grand daddy of the Indian investors, in one of the debates on NDTV had pridicted 25,000. I tried to find the time frame for it, but all I was told is that the sensex is bullish in the long run.

Trying to call your broker.........well, I don't blame you for that.


Anirudh said...

man.....this is probably the wrong time to enter the market....i doubt that such high levels can be sustained over a long time!

Pratik said...

yes, this is certainly the wrong time to enter the markets. It will come down in the near future, but the long term market is bullish so you can invest for the long term.

Pratik said...

I also doubt what ur saying. The sensex will blip, there will be a corrction due to profit booking, but it will increase beyond 10,000 ; leave alone sustainig it.

Anonymous said...

Hey pratik now sensex already shot above 12000 so now upgrade your blog as far as sensex is concern.
Ashutosh Nikalje