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HindustanTimes Sat,26 Jul 2014

Sensex tops 20K, analysts urge caution

HT Correspondent , Hindustan Times  Mumbai, May 10, 2013
First Published: 22:58 IST(10/5/2013) | Last Updated: 23:00 IST(10/5/2013)

The benchmark Bombay Stock Exchange Sensex on Friday posted its highest closing in more than three months at 20,082.62, as cash flow into equities continued across the globe.

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The BSE 30-stock sensitive index, which has been hovering around 20,000 for the entire week, closed above the psychological mark on positive domestic industrial production numbers and global cues. The broader 50-stock National Stock Exchange Nifty closed 74 points up at 6,094.75 on Friday after breaching 6,100-levels intraday.

“Flow of money continues as globally there are fresh allocations into equities,” said Deven Choksey, MD, KR Choksey Shares & Securities. “But this rally is not backed by any fundamental changes. It is driven more by trading money.”


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