Skip to content

India Rising

November 4, 2010

Here in the U.S., the stock market is still struggling to recover from its nosedive a couple of years ago.  But in India, stock indexes are soaring.  Shares of Coal India rose dramatically in their IPO Thursday, the largest ever in India, and drove the Bombay Stock Exchange (BSE) Sensex to a record high.  The National Stock Exchange (NSE) Nifty closed just shy of its record as well.

Photo by Niyantha Shekar. Some rights reserved.

Reuters compared Coal India’s lucrative IPO to a similarly-sized offering in Europe — Enel Green Power – which, by contrast, dropped 4% even after the price was cut.

The indices may reach even higher on Friday, due to special ‘Muhurat’ trading at the BSE and NSE in honor of Lakshmi, the goddess of wealth and prosperity.

And lest you think the India boom is just a lot of hype,Thomas Friedman’s article earlier in the week could change your mind.

No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: