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Journalism of Courage
The benchmark Sensex is likely to test the 6,000 mark again as foreign inflows are continuing as never before. In Muhurat trading on Friday, after touching a high of 6,001.99 in opening trades, the Sensex eventually ended with a small gain of 9.70 points at 5,964.01.
The market is likely to remain firm in the coming days on the back of easing international oil prices, decent corporate results, strong macro-economic indicators and strong liquidity in the market. However, two factors can play spoil-sport: rising interest rates and inflation.
Fund managers are predicting an increase in foreign fund inflows in the coming weeks. FII inflows have already crossed the $6 billion mark this year. FIIs put in net Rs 167.40 crore on Wednesday (November 10). The inflow of FIIs has reached Rs 3,069.45 crore by the first few days of November 2004 (till November 10, 2004). As a result, foreign exchange reserves have crossed the $122 billion mark.
