BSE's SENSEX Weekly report card (13/9 - 17/9)

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Indian Stock indices witnessed heavy buying throughout the week and almost in every session, SENSEX closed 795 points up this week thus easily surpassing rest of the global peers, The main reason for a strong bullish environment was strong local demand.

Strong investment by foreign institutions also lead to rally at the dalal street this week. If we see last two weeks performance of SENSEX it has moved up by over 1300 points, All the other global peers have not shown such rally in past two weeks.

The growth in Indian economy by 8.8 percent as told by Pranab Mukherjee also helped in unexpected weekly rally of Bombay Stock Exchange's SENSEX, At end of the past week SENSEX closed at 34 month high and shall touch 20000 in coming weeks, but however the chances of correction in prices can be expected anytime.

National Stock Exchange's NIFTY also closed in green on friday, but Indian Stock markets may open in red on monday.

The rise in foreign Institutional Investors in Indian stock markets for month of september has been the major reason in a spur in Indian stock indices like SENSEX and Nifty. According to market regulator SEBI FII's have invested over $2.67 billion in Indian markets this month already and this would increase as the month progresses, and if we look at year till date then FII Investment has already crossed 16 billion mark.

Don't know exactly when the Institutional investors would be again on selling spree, and if they do in near future for booking profits then IT stocks would be worst hit according to me.