Sensex crosses 28K mark, Expert attributes surge to positive global sentiment about India

A market expert has attributed the benchmark BSE Sensex crossing the 28,000-mark on Wednesday in early trade as a turning point for India being seen globally as a better destination to do business.

"I had predicted that the Sensex would cross 28,000; that prediction is true. Now, my next prediction is, that by December 31, there is a possibility that the Sensex may perhaps cross 30, 000," Akash Jindal, a market expert, told ANI here

"Now, the sentiment as far as India is concerned is turning positive globally. Globally, India is being seen as a better destination to put money. So, all these are the reasons," he added.

Jindal also spelt out several reasons 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, plus 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," he said.

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 on sustained fund inflows amidst optimism over encouraging corporate earnings.