The blasts in Bombay failed to unnerve the spirit of the Bombay Stock Exchange, where the 30-stock sensitive index (Sensex) rose 316 points yesterday. When Delhi had been racked by blasts on Diwali eve last year, the Sensex soared by over 200 points. (Of course, it mirrored global trends and fell after 9/11 and there were falls after the Parliament and Varanasi attacks.)
Questions: Is the rise of the Indian stock market in spite of blood on the street, an indication of a mature market or a sign of cold-blooded moneymindedness? Are market movements and terror attacks linked, or are they immaterial in a wired world where investors see opportunity even in the face of terror? Should market players take human sentiment into account or should they focus on what they do best because that is the best answer to those who want to bring ruin?