The first half of the year was pretty bad for the world economy and the scenario was no different in India. The stock market finally started to look up in the second quarter of 2003.

Despite sluggish economic growth, declining dollar and fear over Severe Acute Respiratory Syndrome, the BSE Sensex put up a commendable performance and crossed the 5,000 mark for the third time in its history on November 3.

The Sensex gained 156 points to finish at 5,063. BSE's market cap also crossed the Rs 10 lakh crore-mark (Rs 10 trillion-mark) for the first time. The Sensex moved from 4,000 to 5,000 in just 55 days.

The Sensex is now riding on the general feel-good factor. India's macro economic fundamental remain strong given the high foreign exchange reserves, soft interest rates and stable inflation.

Besides, the agriculture sector is seen to grow at a healthy pace buoyed by better than expected monsoon.

(Stock brokers at a broking house in Mumbai).