As a reaction to credit agency S&P's disputable decision to cut US's rating, the Sensex on Monday opened acutely lower and crashed nearly 550 points.
But the market in India demonstrated resiliency and proved worthy as one of the best investment addresses of the world and recovered spectacularly. After the early shocks, investors were back in the buying mood. The Sensex recovered about 500 points.
The recovery was also assisted by global financial powerhouse Goldman Sachs’s report that graded India from 'underweight' to 'marketweight'.
As compared to other markets around the world such Nikkei in Japan, Hang Seng in Hong Kong, FTSE in London and Dow Jones in the US, the Sensex and Nifty has fared much better.
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