Friday, August 10, 2018

India Rising

India’s benchmark Bombay Stock Exchange SENSEX has continued to break records this week.

On Wednesday the 30-share exchange broke its record to reach 38,061 before settling just below the 38,000 mark. At press time Thursday it is at 38,012, marking the first time ever it has reached this level.

Stocks, primarily in banking, IT, capital goods, and oil and gas were given a boost by the International Monetary Fund’s report earlier this week which said that India is continuing on its track to maintaining its position as one of the world’s fastest growing economies.

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Meanwhile back in the US, the majority of the money going into the stock market is from corporate CEOs buying back their own company's stock for the sole purpose of enriching themselves. They have no intention of MAGA.

Sheesh !!!

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