Year After Cash Ban, There's No Sign of India Correction: Chart

(Bloomberg) -- A year after Prime Minister Narendra Modi scrapped all high- banknotes in a move to tackle corruption, India’s $2.2 trillion stock market has surged to become Asia’s second-best performer. The S&P BSE Sensex fell more than 10 percent from peak to trough a few weeks after the Nov. 8 clampdown, but since then it’s been full speed ahead with no sign of a further correction. A more protracted slump came two years ago as concerns about China’s economic slowdown sparked a global selloff.

©2017 Bloomberg L.P.