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Sensex zoom: India Inc upbeat on healthy economy
Our Bureau
New Delhi
,
Sept. 8
WITH the Sensex touching a new landmark of 8,000 points on Thursday, India Inc remained upbeat on the zooming markets and attributed the growth to healthy performance of the economy of the country.
The Associated Chamber of Commerce and Industry President, Mr Mahendra K. Sanghi, described the development as a good economic indicator and refused to subscribe to a view that speculators and manipulators in the broker community were behind it.
"It is the firm conviction of the chamber that healthy economics and reasonably good performance of the Indian economy in almost all sectors have contributed to this development," said Mr Sanghi.
The Federation of Indian Chambers of Commerce and Industry President, Mr Onkar S. Kanwar, said that the buoyant sentiment could be interpreted as an affirmation of the investor confidence in India's consistent economic growth and prospects.
He attributed the surge in the Sensex to expectations of good corporate performance in the second quarter of the current fiscal and easing of oil prices in Asian trade.
Further, a good monsoon in most parts of the country is bound to have aided the strong sentiment, Mr Kanwar said. He further added that with hopes of agricultural revival, rural India is expected to have more disposable income and spending power.
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