Why India’s stockmarket is roaring
After a desultory decade, profits are expected to surge
INDIANS CAN BE excused for looking eastward with more than a little envy. In 1980 India’s GDP per person, in purchasing-power-parity terms, was nearly twice that of China. Then the dragon took off. By 2021 Chinese incomes per person were more than double those in India. Yet when it comes to the performance of the stockmarket over the past year, at least, India can declare triumph. The Sensex 30 index of stocks rose by nearly 22% last year, outperforming not just the Shanghai bourse but the MSCI emerging-markets index, and indices in many rich countries, too. As we wrote this, the Sensex was up so far this year, compared with declines elsewhere.
This article appeared in the Finance & economics section of the print edition under the headline “Roaring tiger”
Finance & economics February 5th 2022
- Why the impressive pace of investment growth looks likely to endure
- America prepares the “mother of all sanctions” against Russia
- OPEC grapples with a precariously balanced oil market
- The global interest bill is about to jump
- Why India’s stockmarket is roaring
- Why stockmarket jitters have not so far spread to the credit market
- China may soon become a high-income country
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