Sensex at 20000 Again

2.5 years after conquering the 20K mark, before going down to sub-10K levels, the Sensex has crossed 20K again - and looks set to stay there for some time. While robust FII inflows might be a cause of concern - when these funds pull out their money, the markets inevitably collapse - what is heartening is that the rally this time is primarily based on growth and fundamentals, not just on artificial demand creation. Strong growth in the banking sector, sustained 8% overall growth, and a resurgence in manufacturing and infrastructure, coupled with good monsoons, means that another 5-10% rise in the Sensex is not unthinkable.