| Often, in the absence of a visible domestic trigger, the behaviour of Indian stock markets is explained as a result of global developments, mainly the rise or fall of overseas markets. Curiously, it will not be far-fetched to state the contrary, that the global stock exchanges follow the Indian markets’ cue. |
| A study of the movements of world markets since May 2006 by Mumbai-based Man Financial shows that the S&P CNX Nifty recorded its high ahead of all major international indices. It recorded its intermediate top during February 6-12 this year and all-time intra-day high of 4,245.30 on February 8. |
| This was followed by all major international indices recording their respective highs. The only exception has been the Hang Seng index of Hong Kong, which recorded its high on January 24 this year. |
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