Then and now: how this market rally is different

As the chart shows, most auto stocks are much higher and the BSE Auto index is 40% higher than where it was on 9 May 2008 and 25% higher than on 24 September 2007

The Sensex may be back to where it was in May last year and in September 2007, but it’s a very different market. That’s easily seen from the sector indices, some of which are at very different levels from where they were when the Sensex earlier reached these levels. (The Sensex, which closed at 16,741 on Friday, was at 16,737 on 9 May 2008 and 16,845 on 24 September 2007.)

As the chart shows, most auto stocks are much higher and the BSE Auto index is 40% higher than where it was on 9 May 2008 and 25% higher than on 24 September 2007.

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