VCCircle

Indian stock markets have scaled another milestone this morning. Bombay Stock Exchange sensex has crossed 17,000, some 100 points above the previous day's close. (The market has cooled off a little bit after touching 17025 in the early hours of trading).
Interestingly, it took just six days to cross the last 1,000 points. The last week's Fed rate cut has had such an impact that all stocks (except IT stocks which are reeling under rupee appreciation) are rallying, especially the large cap ones like Reliance.
Where does the market go from here? Will it scale another 1,000 points before the end of the year? Only time will tell, but Diwali for stock market has come ahead of its time.