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| India stock market hits new high |
| India's main stock index, the Sensex, has gone past the 18,000 mark to reach a new intraday high, the second such record in less than a fortnight.
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| INDIA
, 10-October-2007
1:23:38 AM |
| We were always confident of gains for the markets... What has astonished us is the steepness of this climb," one analyst told AFP news agency.
Indian shares have risen more than 25% throughout 2007.
Analysts believe the gains are likely to continue as foreign money continues to pour into the fast-growing economy.
On 26 September, the Sensex crossed the 17,000 mark for the first time, although it fell back later in the day.
It was the fastest ever 1,000-point gain for the Sensex, achieved in just six trading sessions. The index had taken 51 trading sessions to get from 15,000 to 16,000.
Foreign funds have invested almost $10bn in Indian stocks this year, and inflows rose again after the US Federal Reserve cut interest rates in September.
Domestic demand has also remained steady.
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