Why the Indian stock market is on an all-time high


Indian stocks are on a trip of their own, out of sync with the real economy with every passing day. A five-week rally has extended at a time when GDP growth is slowing down and an earnings revival remains uncertain.

Benchmark indices Nifty and Sensex scaled yet another peak on Jan. 08, borrowing optimism from the rest of Asia that was high on cues from Wall Street. Sensex hit a record 34,382 points and the Indian rupee hit a 32-month high against the American dollar.

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Credit: qz.com