Tuesday, June 2, 2009

BSE Sensex May Cross 15,000 Points

. Tuesday, June 2, 2009

By stockOzone team

The BSE Sensex could breach 15,000 points on Wednesday for the first time in almost nine months, tailing strong Asian peers and optimism the global economy is on the mend.

Leading telecoms firm Bharti Airtel will be in focus after South African mobile group MTN's biggest shareholder said he supports revived merger talks with the Indian firm in principle, but believes there is "room for improvement" on the price.

Essar Oil will be watched after the Economic Times reported the company would raise about $500 million through a placement with institutions as part of its $2 billion fund raising programme.

Asian markets were higher on Wednesday after a rise on Wall Street overnight. Japan's Nikkei was up 0.2 percent by 0359 GMT, while MSCI's measure of other Asian markets rose 1 percent.

Nifty futures traded in Singapore were up 1.1 percent, pointing to a higher opening in India.

The 30-share BSE index ended up 0.23 percent at 14,874.91 on Tuesday, after spending most of the day in negative territory as resistance emerged after a near 85 percent rally since early March.

Disclosure: Author does not own any of the stocks discussed here.

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