Word: sensex
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...emerging markets. Stock markets from Mumbai to Shanghai have been hitting record highs with giddy regularity recently, in spite of dangers such as the murky outlook for the U.S. economy. The CSI 300, a benchmark index for China stocks, has nearly quadrupled in the past year, while India's Sensex index is up 35% since January. Even Nigeria's stock market, a relative newcomer to the radar screen of global investors, has jumped almost 60% in 2007. (The value of stocks listed in Nigeria is now almost double that of shares listed in Argentina, even though Argentina's economy...
...There were predictions that the stock market would nosedive, but it actually gained 3% the very next day. This was history repeating itself; after a bombing in 1993, when the exchange building itself was attacked, traders stood amid the ruins and used the old manual system, sending the Sensex shooting up 10% in two days. Just to show...
...well-known Indian investor. "The terrorists were trying to attack the financial backbone of India, but it did not work." Indeed, in the aftermath of the bombs, Bombay's people showed resilience and bravery?just as those in Madrid, London and New York did in similar circumstances. The Sensex, India's benchmark stock index, rose 3% the day after the attacks. But for all the Mumbaiker spirit, the bombs showed that economic growth does not inoculate a society from those who want to use a bomb to make their political point...
...than to bet on Indian stocks. Millions of Indians were finally clawing their way into the middle class, creating a new domestic consumer market, while companies in Bombay and Bangalore emerged as global players in everything from outsourcing to pharmaceuticals. Investors went crazy. India's main stock index, the Sensex, has more than tripled in the past three years. One giddy investing show on Indian TV has even dubbed itself Sensex and the City...
...investors, much of the fun has stopped. After peaking in early May, the Sensex plunged 30% in a matter of weeks, at one point tumbling 10% in just two hours. "It feels like the hangover after a big party," Chokhani says. Indian stocks rallied dramatically late last week, but for U.S. investors eyeing this mayhem from afar, the Indian market looks as risky as it is tempting. With stock prices down, is this the moment to invest on the cheap in what many believe will be the world's fastest-growing economy over the next 50 years...