India Stock Market Sensex Hits Record Boosted by Foreign Investment

November 1, 2013 Share Print 0

India’s main stock index, the Sensex, has hit a record high, propelled by an increased inflow of foreign capital.

The index reached 21,293.88 early on Friday, surpassing its previous high of 21,206 set during the stock market boom of 2008, before closing at 21,196.81.

The rise marks a remarkable turn around from two months earlier, when foreign investors were pulling out money from the country amid worries over growth.

However, some analysts doubted whether the current rally was sustainable.

via BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.