Wednesday, June 29, 2011

Today's M^3 - India's Sensex 30 Index up 6.5% for the Week

The BSE Sensex 30 Index is up nicely this past week with a 6.5% gain. In fact, many of the Indian indexes are among the top performers globally over the prior 7 days.

We had featured another Indian equity index, the Bombay Stock Ex 100, back on the 19th of this month. At that time the news was less positive as Indian equities were down around 2.5% for the day. Very shortly after that post (within a couple of days) the Indian markets rebounded strongly.

The big reversal appears to be riding on the global wave of positive equity movement that resulted from the news out of Greece. Approximately 66% of the global equity indexes we track on are in the green over the past week. India's markets probably got an extra boost because they were so beaten down the weeks just prior.

(Click on the images for a larger view.
Click here for the current performance of global equity indexes.
Click here for the line chart of the BSE Sensex 30 Index.)

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