Another fine day for Indian and Asian stocks across the board. India’s Sensex is up 727 points or 3.77% and is back approaching the years highs at around the 20280/300 level.

India sensex 10 09 2013

India sensex 10 09 2013

India’s Nifty 50 and the Jakarta composite has 216 and 167 points respectively, up just under 4% each.

The currencies are fairing better as well with the rupee back down below 64.0 vs the dollar.

INR/USD 10 09 2013

INR/USD 10 09 2013

It remains to be seen whether this is the end of the flood out or whether there is some optimism for the global economy if the US picks up the growth baton and China turns the falling growth tide. Certainly figures out of India today would have helped. The trade ministry reported that exports were up 12.97% while imports fell 0.68% in August. The ministry also expects the trade deficit to come in lower than last fiscal year. It’s been an explosive couple of months, and there’s still plenty of issues at ground level, as have been pointed out by our readers, but from a global perspective the EM’s will be hoping for a less volatile environment going forward.