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from Expert Zone:

How high will the Sensex go?

(Any opinions expressed here are those of the author and not of Thomson Reuters)

A bronze bull sculpture is seen as an employee walks out of the Bombay Stock Exchange building in MumbaiSince April, the stock market has been in a frenzy after a long period of utter gloom. In quick succession, the Sensex jumped month after month to cross 26,000 on July 7. This was not mere euphoria created by the election of the Narendra Modi government, with a single-party majority in the Lok Sabha after a long time.

The market had to make up a lot for lost time. In the last three years of the Congress-led government, the Sensex lost 6 percent. Even if the Sensex had risen at the same pace as the rate of interest, it would have crossed 26,000 last year. The build-up of investor confidence by Modi during the campaign, and subsequently after the election, was instrumental in reversing and accelerating the lethargic pace of the Sensex.

In four months, the Sensex climbed 16 percent. What is amazing is a fifth of that jump was accomplished in a single day on May 13.

from India Insight:

India at the 2014 Commonwealth Games

India, the host of the last Commonwealth Games, sent a contingent of 220 athletes to this year’s Games in Glasgow. It finished fifth on the tally with 64 medals. Here is a look at the winners.

STORIES -

Kashyap ends long Indian wait for men's badminton gold

Tendulkar factor adds to pressure on Sindhu

Saina Nehwal pulls out with fitness issues

SLIDESHOWS -

Indian athletes in action at the Glasgow Games

Commonwealth Games opening ceremony

India's medal haul in 2010

(This article is website-exclusive and cannot be reproduced without permission)

from Photographers' Blog:

Waiting to die

Varanasi, India
By Danish Siddiqui

The River Ganges is sacred in Hinduism, and the city of Varanasi, which lies on its banks, is one of the oldest and holiest sites for Hindu pilgrims from all over the world.

Devotees believe that you can wash away your sins by taking a dip in the Ganges at Varanasi. What’s more, dying and having your ashes scattered here is a sacred thing for Hindus who believe that it brings “moksha,” or freedom for the soul from the constant cycle of death and rebirth. To attain this salvation, many travel to Varanasi to die.

from India Insight:

Indian eatery run by murder convicts praised for politeness, hygiene

As India's capital baked under a heat wave this month, banker Gaurav Gupta sat down for lunch at a new air-conditioned restaurant, and was greeted by a smiling waiter who offered him chilled water and took his order -- a traditional "thali" meal of flatbread, lentils, vegetables, rice and pickle.

Nothing unusual, except that the employee, like most of his co-workers, is a convicted murderer serving time in South Asia's largest prison complex.

from Breakingviews:

Asia’s solid exterior hides internal weakness

By Andy Mukherjee 

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Asian economies are becoming more resilient externally, but sputtering economic growth is weakening them from within.

from India Insight:

Four of every 10 Asians living with HIV are Indian – U.N. report

India has the third-highest number of people living with HIV in the world, with 2.1 million Indians accounting for four of every 10 people infected in Asia, the United Nations said in a report on Wednesday.

The epidemic has killed about 39 million of the 78 million people it has affected worldwide since it began in the 1980s, the U.N. AIDS programme said, adding that the number of people infected with HIV was stabilising around 35 million.

from India Insight:

A victory of defiance, not a dead pitch

(The views expressed here are solely those of the author, and not necessarily those of Reuters)

Cricket is a contest of attrition. The game is a lot more about skills and strategies than just the "condition of the pitch." It's certainly more cerebral than what a few contemporary commentators would have us believe.

from Global Investing:

Emerging markets; turning a corner

Emerging markets have been attracting healthy investment flows into their stock and bond markets for much of this year and now data compiled by consultancy CrossBorder Capital shows the sector may be on the cusp of decisively turning the corner.

CrossBorder and its managing director Michael Howell say their Global Liquidity Index (GLI) -- a measure of money flows through world markets -- showed the sharpest improvement in almost three years in June across emerging markets. That was down to substantially looser policy by central banks in India, China and others that Howell says has moved these economies "into a rebound phase".

from Breakingviews:

Spending hike is best part of low-key India budget

By Andy Mukherjee

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The new Indian government’s maiden budget fell short of the hype. But Narendra Modi’s administration earmarked substantial sums for new infrastructure, which should revitalise growth.

from India Insight:

Budget 2014: Give Indians tax breaks, more ways to invest – experts

Arun Jaitley's first budget as India's finance minister should allow individual taxpayers to invest more money in vehicles such as government savings bonds, mutual funds and employee savings plans, and provide them with tax credits that would bolster their savings and boost economic growth, tax experts say.

Income tax rules allow for an annual exemption of 100,000 rupees ($1,700) in investments and expenditures such as life insurance and home loan repayments, a rule that has remained unchanged for about a decade. Such investments, along with public provident funds, employee provident funds, five-year term deposits in banks and equity-linked mutual fund savings plans are good for individuals and also help keep the economy on a strong footing, said Suresh Surana, founder, RSM Astute Consulting.

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