The Bombay Stock Exchange's benchmark Sensex is likely to hit the much awaited psychological level of 21,000 in the next week, driven by the smart RIL numbers and expectations of robust listing of the Coal India IPO, say analysts.
Sensex, which saw a subdued performance last week by shedding 0.66 per cent, mainly on account of tight liquidity, may bounce back by surging over a staggering 1,000 points.
"The country's most valued firm Reliance Industries has posted better-than-expected second quarter numbers, which will boost the investor sentiment and lead the market to the 21,000-mark on Diwali ," CNI ResearchChairman and Managing Director Kishore P Ostwal said.
On Saturday, Mukesh Ambani-led Reliance Industries had posted a robust growth of 27.8 per cent in its net profit for the second quarter ended September 30, at Rs 4,923 crore against Rs 3,852 crore in the year-ago period.
Besides, the Reserve Bank of India's (RBI's) quarterly review policy on November 2 and Coal India, which will list on the bourses on November 4, are the two big fat issues on which the market will heavily bank upon, feel marketmen.
