The S&P 500 and the FTSE rose 2% each, while the Hang Seng and the Shanghai Composite ended flat. The Bovespa rose sharply, by 9%.
Hotel companies’ shares were in demand during the fortnight. Taj GVK Hotels & Resorts, EIH, Indian Hotels Co and Viceroy Hotels advanced 20%, 15%, 14% and 13%, respectively. Mahindra Holidays & Resorts rose 3%.
Steel companies were punished. Jindal Steel & Power, Prakash Industries, Rathi Steel & Power declined 15%, 10% and 9%, respectively. SAL Steel and Surana Industries fell 7% each. SAIL and JSW Steel dipped 2% each.