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Sensex soars 10% in Nov as dollar slides

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Agencies

Posted: Nov 14, 2009 at 1332 hrs IST

Mumbai Global factors that helped Indian bourses rise by over 10 per cent in November so far, may continue to power a short-term bull run next week as well as investors turn to risky assets following sliding dollar against a basket of currencies.

Analysts credited sustained rally from the intra-day low of 15,330.56 on November 3, first trading day of the month, to a high of 16,909.74 on November 13, to dollar's fall to a 15- month low during the week under review.

Key driver of the market, however, was foreign investors as they bought shares worth USD 774.2 million in November, taking their total purchases to USD 14.8 billion so far in the calendar year 2009.

Investor sentiment also got a big boost after the government's disinvestment talk and assurance to keep stimulus packages until the global economy showed recovery.

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