Sensex 40,000 is Back on the Cards - Views on News from Equitymaster

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The Equitymaster Research Digest

Sensex 40,000 is Back on the Cards
Aug 29, 2017

  • The correction seems to be over
  • Ajit Dayal on the Infosys saga
  • Richa changes her view on her latest recommendation after 12% price jump

Is the correction over?

It sure looks like it.

The Sensex started falling from 1 August from its life-high of 32,575.17. But it didn't fall a lot, just 4.4%. It seems to have bottomed out after just eight trading days at 31,213.59.

I wouldn't be surprised if the life-high is taken out this week. If that happens, the journey to 40,000 will be underway again.

The diplomatic end to the military standoff at Doklam between India and China will surely lift sentiment.

The resolution of the Infosys saga, is another big positive. Infosys has the highest free float in the market. It has an 8.1% weightage in the Sensex. It's up about 8% in the last four trading days.

It looks like good times are back again.

I wrote to you about this last week. I explained why we are bullish on not just Infosys but many IT stocks.

You can also read my earlier piece on this - Can IT stocks take the Sensex to 40,000?

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