New Delhi: The BSE Sensex, crossed another milestone as the index scaled past the 15,000-mark during mid-noon trades on Friday.
While analysts are concerned about the financial results of companies—rolling out in next few weeks—amid fears of the currency impact, earnings hit by strengthening rupee, markets are likely to remain volatile though maintaining a higher level.
Sensex crossing 15,000 was unimaginable two-years back but today it is a reality and very close to what former SEBI whole-time member Madhukar uttered, predicting that Sensex will cross 16,000 mark also.
After achieving this record landmark analyst feel that Sensex will cross 25,000 mark by 2010, which trade analyst Rakesh Jhunjhunwala had predicted way back in 2005.
A brave statement from world's leading investment bank Morgan Stanley predicts Sensex to cross 50,000 mark 12 years from now in 2020. Morgan Stanley's prediction came in February only and they still hold on to what they predicted earlier.
"You just need to factor in India's GDP growth of 8 per cent along with an inflation of 5-6 per cent and the cost of manufacturing and assuming Sensex stocks will grow by 17-18 per cent till 2020, then it will work out to more than what Morgan Stanley has predicted," Angel Broking's CMD, Dinesh Thakkar was quoted by PTI.
The landmark on the Indian bourses that will now be keenly awaited is NSE Nifty's 5,000 mark, which is just 614 points from Friday's close at 4,384 points.
"Sensex is in exuberance right now and it will continue for next few months," Thakkar says.
Sensex with Friday's close at 14,964 is yet to record its first ever close above 15,000 mark, and when it does it will join an exclusive club of world bourses that currently trade above 15,000.
With inputs from PTI
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