India Enters Bull Market as Stimulus Bets Lift Global Equities
- World markets climb on U.S. jobs data, Abe election victory
- Sensex rises 20% from February low on monsoon forecast, inflow
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Indian equities reentered a bull market, with the benchmark index climbing to a 11-month high, as Asian stocks rose after better-than-expected U.S. jobs data brightened the global economic outlook.
The S&P BSE Sensex jumped 1.8 percent to its highest level since Aug. 19 at the close in Mumbai. The gauge has rebounded 20 percent from a low reached in February, fitting the definition of a bull market, as overseas funds bought shares at the fastest pace in more than a year amid forecasts for above-normal rainfall after back-to-back droughts and a recovery in company earnings.