Yes, Mr. Cramer, you are right. There is always a Bull Market Somewhere! Emerging Market India’s SENSEX surged about 2000 points (i.e. approx. 22%) in two sessions of one minute each.
India went to polls and its one billion citizens voted the pro-reform party to power. This pro-reform party is led by none other than Dr. Manmohan Singh, well respected economists and architects of India’s economic reform. Dr. Singh was prime minister for last five years, but he had to run a coalition government with leftist groups. This often tied his hands down.
But now the population has given him a convincing win, which not only increases government’s stability, it also abode’s well for the faster pace of reforms. The markets cheered this with the one day surge and kept the India story alive and kicking.
Since January 2009, India’s SENSEX index has gained 48% (including the latest surge). If we look at other emerging markets, then China’s Shanghai SE A-Share Index has gained 45.6%, Taiwan’s TAIEX has gained 43.3%, Russia’s RTS-2 has gained 33.2%, and Indonesia’s Jakarta Composite is up 31.2%. So India’s SENSEX is following the trends in the region. continue reading rest of the article….