India Stocks Surge 20% From March Low, Set for Bull Market
India’s stocks joined other Asian markets to enter a technical bull market on optimism that government steps will help contain the coronavirus outbreak and stimulus packages will ease the economic damage.
The benchmark Sensex jumped 4.4% as of 3:08 p.m. in Mumbai. That takes gains to 20% from its most recent low reached on March 23, an increase that some analysts consider as entering a bull market.
India has implemented the world’s biggest lockdown to contain the spread of the virus. The government unveiled a $22 billion fiscal stimulus package along with other support measures.
Globally, Germany, France and FTSE Index gained 20% from the low. US S&P gained 20%.
