The stock market party is not confined to Dalal Street. US, Germany, Japan and some other developed markets are also witnessing a stunning rally. But the similarity with India ends there.
For the first time since 2010, major markets have reported higher earnings per share which analysts forecast may grow 15 per cent this year. In India, markets have surged despite earnings downgrades for the fifth year in a row.
It is up 40 per cent, or $26 trillion, since January ..
