Sensex's new landmark a great show: brokers - Hindustan Times
close_game
close_game

Sensex's new landmark a great show: brokers

PTI | By, Mumbai
Jul 06, 2007 05:45 PM IST

Jubilant over Sensex breaching 15,000 mark in the intra-day trade on Friday, brokers say it is good news.

Jubilant over Sensex breaching 15,000 mark in the intra-day trade on Friday, brokers said it was a "great news" as the market went up despite expectations of some correction after DLF's listing on Thursday

HT Image
HT Image

Sensex finally closed below 15,000 level at 14,957 points gaining 95 points over the last close as per the provisional figures available on the Bombay Stock Exchange (BSE).

Hindustan Times - your fastest source for breaking news! Read now.

"Sensex crossing 15,000 mark is not just a psychological level but a very good news that even after issue of the size of DLF hitting the market it can happen," Karvy Stock Broking's Head of Equity Research T S Harihar said.

"There was concerns that post DLF listing there will some downside," Harihar said, adding that "the market at 15,000 was not overvalued with a price to earning (PE) ratio of 17.5 to 18 per cent with corporates showing more than 20 per cent profit.

"The 15,000 level on Sensex makes one feel jubilant and even at this level, sector-wise it is worth hanging on," BSE Member Madhukar Sheth said, adding that some sectors had moved up faster than Sensex while others had underperformed.

"BSE Banking and Capital Goods sector indices have gone faster while construction has performed at par with Sensex, and FMCG, healthcare and lately auto sectors were the under-performers," Madhukar said.

Metal index has performed in line with the Sensex while IT sector has been lagging behind. Midcap and Small cap scrips performed at par with Sensex with the Small cap index touching a new high today while the Midcap was hovering near the top.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On