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The 50 share NIFTY rose to over 4700 – at a 14 month high to 4,720.85.  Also BSE Sensex went beyond the 15000 mark to 15,942.93 – again a 14 month high.  Is the recession over?  Or is this another fool-hardy example of over enthusiasm by the investing public?

The question that I still have is – have the macros improved?  Have the basic instabilities in the system been taken care of?  I personally don’t think so.. as most experts around the world keep pointing to as well.  The macro situation is as bad as it was earlier.  Things have just been arrested – the fall of the financial system.  But no one as yet has really taken care of the high debt, liquidity issue caused by the lack of trust caused by the erosion of transparency in the financial market.  What do you think?

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Sensex soars to 14-month high; auto, metal lead rally