Friday
Jul022010
What Decline?
Friday, July 2, 2010 at 06:17PM Global equity markets have been routed in recent weeks, but nobody told India. China's Shanghai Composite is down 31% since last August and deep into bear market territory. The S&P 500 is down 16% from its April 23rd closing high and 8.5% over the last ten trading days. India? Its Sensex index is just 2.23% off of its bull market high and down just two basis points year to date. Since the March 9th low here in the US, China is up 12.5%, the S&P 500 is up 51%, and the Sensex is up 114%. Over the last year or so, India has really been the place to be.
Reader Comments (4)
Don't think India's gold purchases haven't influenced confidence in their markets.
2% of its bull market high ? The Sensex hit 21,206.77 in Jan, 2008. It's trading at around 17,500 today. That's about 17% off its bull market high. What have you been smoking ?
All of those pushing the bull market, "earnings are up" garbage never compare to the October 2007 highs. Everything is down when compared to this except gold. All the indexes and all stocks.
Analyzing the P/E, the stock prices are still cheap making it a great buy. Also no ludicrous Executive payments in the Indian companies, boards are regulated by the Stock exchange and Reserve Bank and no virtual valuation process. As a long term buy this is all key Indicators.