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Last Updated: Tuesday, 21 March 2006, 12:52 GMT
Indian shares power past 11,000
Stockbrokers in Mumbai
Indian stockbrokers are enjoying boom times
India's main stock market has passed another major milestone, scaling the 11,000 mark for the first time ever.

The landmark level was reached less than six weeks after Indian shares broke through the 10,000 barrier.

Strong economic growth and increased interest by foreign investors in Indian firms have underpinned the market's performance in the past two years.

After touching a 11,017.25 high on Tuesday, the benchmark Sensex share index closed down slightly at 10,905.2.

Investment appetite

The index passed the 10,000 mark for the first time as recently as early February, and has risen 17% in value so far this year.

The previous year had seen share prices increase by 42%.

Analysts said they expected the market to continue growing, bolstered by widespread faith in India's ability to maintain its outstanding economic growth of recent years.

"This is a no-sell market with strong fundamentals, sustained domestic buying and retail appetite in equities keeping stocks buoyant," said Rajesh Jain, a director at Pranav Securities.

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