Sensex posts biggest yearly gains since 1991

Mumbai, Dec 31 (ANI): Indian shares provisionally rose 0.77 percent on Thursday to end the year up 81 percent, their biggest annual gain since 1991.

The 30-share Bombay Stock Exchange index provisionally ended up 134.10 points at 17,477.92.

The main index has surged on strong foreign fund inflows.

"It is very good sign that sensex has doubled. It has minimise all loses. Market is likely to reach 18,500 as the inflow of FDI (Foreign Direct Investment) takes place. Market is very strong," said Deven Shah, share expert and senior dealer in Mumbai.

But investors appeared sceptical whether the market would remain buoyant in the long run.

"The only concern for 2010 is that inflation is going up so the government might take steps to increase the interest rate which will have some impact on the market and we will have to see how the government manages the fiscal deficit also which is one factor that will affect the market," said Sidharth K Kuvavala, an investor.

The 50-share NSE index provisionally closed up 0.76 percent at 5,208.75 points. (ANI)