India is not the only bull market in the world right now. Several markets have touched multi-year highs in March including the US, Mexico, Indonesia, Singapore and France. Some markets such as Brazil and Hong Kong and even Japan peaked a few weeks earlier.
Our markets are one of the few markets to be at their all-time highs though. Since the beginning of 2006, the BSE Sensex has gone up 17.89 per cent, which will be a fantastic return for an entire year.
While India is among the top performing markets in the world, Russia, Pakistan and Sri Lanka have done better than us this year so far, in spite of all the three markets not being at their highs.
Though we are one of the best countries in terms of GDP and corporate earnings growth, the main driver is liquidity, which has pushed up markets from the UK to New Zealand worldwide.