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Sensex tops 20K, analysts urge caution

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.

business Updated: May 10, 2013 23:00 IST
HT Correspondent
HT Correspondent
Hindustan Times

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.

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.”

First Published: May 10, 2013 22:58 IST