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[Kizen]

The Bombay Stock Exchange benchmark index, Sensex, touched its highest level at 13,002.86 in afternoon trade on the back of heavy buying led by FIIs and mutual funds on Monday. The markets showed smart recovery and strength as compared to its Asian peers. Sensex was up 48 points at 13,002.82 level while Nifty was up 8.20 points or 0.22 per cent at 3747.55.
The opening day of the week marked a big feat for the stock markets. Analysts and traders were expecting Sensex to hit the psychological 13K level earlier last week. But after retracing a bit at the 12,900 levels, markets finally crossed the psychological 13,000 mark on Monday.
With markets touching a historical high, India Inc has proved its potential once again. FII money is flowing into the markets and company results have been good. Infosys recorded a net profit of Rs 794 crore earlier this month and an overall growth of over 9.1 per cent as compared to the previous quarter. Also, Wipro showed net profit rise by 12.83 per cent at Rs 700 crore as the company declared its Q2 results for the FY07.
The analysts say there is enough headroom in the markets for further gain. However, they expect heavy profit-booking to take place as the Sensex touches record highs in the coming months.
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[patanx]

India's rupee may end the year at the strongest in 15 months as the central bank raises the benchmark interest rate for the fourth time this year to curb inflation, according to Bank of America Corp.
Reserve Bank of India Governor Yaga Venugopal Reddy tomorrow will increase the rate by a quarter percentage point after a weekly government report on Oct. 27 showed inflation accelerated at the fastest pace in four months, currency strategists Yeo Han Sia and Lawrence Goodman wrote in a research report.
The rupee may advance to 44 against the dollar by the end of the year, the most since Sept. 26, 2005, and may strengthen to 43.4 by end 2007, according to Bank of America. It traded at 45.0938 at 10:47 a.m. in Mumbai, heading for the strongest close in more than five months, according to data compiled.
An increase in interest rates is an incentive to Indians living abroad to deposit more money back home. The flows, called remittances, are a component of the nation's current account. They make up 3% of gross domestic product, according to the central bank.