Sensex over 15,000 pts on global cheer
The world markets cheered the global revival, with the Sensex adding 446 points or 3 per cent to its gains over the previous week to cross the 15,000 mark after over a month, reports HT Correspondent.business Updated: Jul 20, 2009 22:59 IST
The world markets cheered the global revival on Monday, with the Sensex adding 446 points or 3 per cent to its gains over the previous week to cross the 15,000 mark after over a month.
It closed at 15,191 on Monday, while the Nifty gained 2.9 per cent to close at 4,378.
The world markets rose on account of better than expected results of global corporates like Goldman Sachs, IBM and Intel. “While we are fast recovering from the losses of post budget overreaction, global macro and micros have improved with better economic growth prospects across developed economies,” said Aseem Dhru, CEO, HDFC Securities.
The Hang Seng rose 3.7 per cent, Shanghai composite gained 2.4 per cent and the Seoul composite was up 2.7 per cent. Almost all European markets also opened in the green.
“This has got more to do with the good results of the IT companies. TCS results were very good and the results of global IT majors IBM and Intel helped the cause,” said Gaurav Dua, head of research, Sharekhan.