Cheering the stock market rally that pushed the Bombay Stock Exchangebenchmark Sensex above 20,000 points, Finance Minister Pranab Mukherjeeon Tuesday said he was happy about the milestone.
"We all knowthe Sensex is always a little bit unpredictable. (But) I am happy thatfor the first time after January 2008, it has crossed 20,000,"Mukherjee said here.
The finance minister was replying to reporters' query about his views on the stock market benchmark's new milestone.
Theindex last traded above 20,000 level on January 17, 2008. Prior tothat, the index had scaled its life-time peak of 21,206.77 points onJanuary 10 the same year.
However, a meltdown on the bourses, inline with a global downturn, led to a sharp plunge in the index,pushing it to near 8,000-level in October 2008.
However, themarkets started recovering by March 2009 and a sharp rally has beenrecorded over the past couple of weeks when the Sensex has gained closeto 2,000 points.
It scaled a high of 20,088.96 points withinminutes of the market opening this morning, but pared some of the gainslater and was trading at 19,950.55 points at 12.00 pm.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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