Indian stock market hits all-time high

The Indian stock market hit an all-time high today, beating the last record high reached in 2008.

The Sensex index hit 21,293 in early trading, exceeding its previous high of 21,206 achieved at the start of 2008. The fresh high was driven by improved investor sentiment after a number of positive earnings results. It follows a difficult period for India during which the falling rupee hit a record low, prompting fears of a currency crisis. Financial results so far this year have been disappointing, and a number of brokerages downgraded their market forecasts in the middle of the year. However, since Raghuram Rajan became head of the Reserve Bank of India in September, confidence ...