Wednesday, April 5, 2017

Indian Stock Market makes new high

India's stock market is on a roll as the aftershocks from Prime Minister Narendra Modi's banknote ban subside and his government's revamping of the tax system gains traction.

The benchmark BSE Sensex index closed at 29,910 on Monday, rising 1% on the day to beat a record high hit in January 2015. It was only a matter of time until that record was broken, as the index had surpassed the previous closing high of 29,681 four times on an intraday basis last month.


Driving these gains is a surge in investment from abroad, with foreign institutional investors buying a net $4.75 billion of Indian equities in March, the biggest monthly inflows under Modi's watch.

I am a huge bull on India. I am invested in India via Fairfax Financial which is Prem Watsa's investment vehicle created to invest in India. This is a long term investment for me and I expect it to perform as well or better than Watsa's Fairfax Financial which has gained around an average of 18% per year for the last twenty years.

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