Panic sellers have burnt their fingers yet again. After end of the US-led war on Iraq in the last week of April, stock markets world-wide have bounced back by over 10 per cent from levels on March 20, the day the US pounding started.
Between April 30 and June 17, the Nasdaq surged 13.8 per cent to touch a 13-month high of 1666.58. The Dow Jones Industrials is up 10 per cent to close at 9318.86, a level last seen an year ago.
Asian stock markets too have reacted favourably with the Hang Seng, Nikkei-225, Singapore Straight Times, BSE Sensex and S&P CNX Nifty gaining over 15 per cent each.
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During the period, the BSE Sensex surged 15.9 per cent (or 471 points) from 2959.79 on April 30 to 3431.03 on June 17. The S&P CNX Nifty has also gone up by 15.8 per cent from 934.05 to 1081.95 in the same period.
Singapore