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India’s Sensex rallied 17.34% yesterday on unexpected election results for its biggest one-day gain ever in its 30 year history.  As shown in the bottom table below, the next biggest one-day gain came in March 1992 when the index rallied 13.14%.  From its peak in January 2008 to its recent low, the Sensex dropped 60.91%.  From its low, however, the index has now rallied 75.04% in just over two months.  Even after this 75% gain, India needs to rally another 46.13% to reach its old highs.

Source: Bespok Research