Run Run Run

So BSE Sensex has crossed 18,000 mark. It took just 8 working days to take market from levels of 17K to 18K. The Bull run was led by buoyant FII inflows.I read couple of newspapers and saw in news on various channels that how media has gone gung ho on this. As if India has achieved some thing very great.
This inspite of the knowledge that only handful of people have benefitted from this bull run. In India only 6 million people invest in shares.Thats less than 0.6% of the whole population. Thanks to this Bull run, Ambani's of Reliance, KP Singh of DLF, Sunil Mittal of Bharati etc have moved up several notches in Forbes list of Billionaires.

I wonder whether Indian markets have really decoupled themselves from other economies as mentioned in newspapers. This Bull run is obviously after effect of rate cuts by Federal reserve. Since the interest rate is low FIIs and other hedge fund investors borrow from Fed and invest it in India.

Another thing that makes me wonder is whether big investors have started ignoring the fundamentals or is it that gross manipulation in Share Market is driving prices north?
The recent report shows that Industrial Production Index has shown dip in output. Yesterday there was report that in India Automobile sales showed depressing results.Still market is buoyant.