The colour of money has been restored to Mumbai’s stock markets, where indices have jumped back after a rinsing earlier this year.

With a fair wind from stellar quarterly earnings and a halt in US rate rises, the 28 per cent leap in India’s key share index since the low in mid-June shows that “money will always chase growth”, says Alok Vajpeyi, managing director of Dawnay Day, a UK financial services group newly set up in India’s financial hub.