Sensex may cross 6,000 again

This Diwali is likely to bring some cheer to the stock market. If the current market trend is any indication, the Sensex will see the 6,000 ...

This Diwali is likely to bring some cheer to the stock market. If the current market trend is any indication, the Sensex will see the 6,000 mark for the second time in 2004.

It’s almost there. The BSE Sensex last week jumped 219.09 points to settle at 5,891.36 — its highest level in more than six months. ‘‘The index will cross the 6,000 mark next week if the bull support remains intact till Diwali,’’ said BSE dealer Pawan Dharnidharka.

The Sensex last closed above the 6,000 mark on January 2, 2004.

The return of George Bush as the US President and the fall in crude oil prices augur well for stock markets.

However, the market is yet to absorb the impact of the hike in petrol, diesel and LPG prices. After one of the steepest hikes in the prices of petrol, diesel and LPG on Thursday, the spiralling effect of the rise on inflation will surely be felt in a couple of weeks. In fact, market analysts believe RBI’s rather modest inflation forecast of 6.5 per cent could again be revised upwards on account of the steep hike in petroleum products prices.

‘Grave insult to wounded people’: Cong lashes out at PM Modi amid his first Manipur visit

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As Prime Minister Narendra Modi visits Manipur for the first time since ethnic violence hit the state in May 2023, the Congress on Saturday called it a “farce, tokenism, and a grave insult to a wounded people”.

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