Jul 11, 2007 07:31 PM
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Sensex hitting 50, 000 is right now only a serious prediction for Morgan Stanley and a laughable target for others but believe it or not Brazil's 50
share benchmark index 'Bovespa' went past 50, 000 mark in May this year.
Sensex crossing 15, 000 was also unimaginable two years back but today it is
a reality and very close to what former Sebi whole time member Madhukar
uttered, predicting that Sensex will cross 16, 000 mark also.
After acheiving this record landmark analyst feel that Sensex will cross
25, 000 mark by 2010, which big bull Rakesh Jhunjhunwala predicted in 2005 only.
Another brave statement from world's leading investment bank Morgan Stanley predicts Sensex to cross 50, 000 mark 12 years from now in 2020. Morgan Stanley's prediction came in February only and they still hold on to what
they predicted earlier.
"You just need to factor in India's GDP growth of 8 per cent along with an
inflation of 5-6 per cent and the cost of manufacturing and assuming Sensex
stocks will grow by 17-18 per cent till 2020, then it will work out to more
than what Morgan Stanley has predicted, " Angel Broking's CMD, Dinesh
Thakkar said.
Also, the Sensex crossing 50, 000 mark is in the realm of possibility with
Brazil's Sao Paulo Stock Exchange's benchmark index Bovespa hitting 50, 000
mark first time ever on May 3 and closing around 55, 000 mark last week.
The landmark on the Indian bourses that will now be keenly awaited is NSE
Nifty's 5, 000 mark which is just 614 points from yesterday's close at 4, 384
points.
Sensex with yesterday's close at 14, 964 is yet to record its first ever
close above 15, 000 mark, and when it does it will join an exclusive club of
world bourses that currently trade above 15, 000.
Besides Bovespa, on Friday Japanese index Nikkei closed at 18, 140 and Hong
Kong's index Hang Seng closed at 22, 000 level.
There are 50 companies listed in the blue-chip Bovespa stock index as
compared to 30 companies on the Sensex.
