Sensex to scale 21000 mark soon

Sensex is expected to cross the 21000 mark soon according to most of the analysts, with the FED announcing the rate cut of 25 bps yesterday, more funds are expected to come into the emerging markets like India and China. Sensex will cross the next mark of 21000 before the next meeting of US Central bank in Jaunary where markets are in a view that FED will cut another 25 basis point of interest rate.

Sensex has gained close to 450 points in the past two days and today settled above the 20,000 mark for the second consecutive day.

“The markets are going to rally from here onwards. Gain of 500 or more points is not a big thing now a days as the base of the market has increased. A level of 21,000 for Sensex and 6,500 for Nifty is quite achievable,” domestic brokerage firm SMC Global vice-president Rajesh Jain said.