A Red Flag for India's Bull Market
Forget the sacred cows, here come the bulls. Investors in India seem to be having a fit of exuberance, irrational or otherwise. Bombay's benchmark stock index, the Sensex, has broken records almost every day this year, moving from 9,390 on Jan. 2 to 11,747 on Apr. 5. At least $11 billion in foreign money has poured in over the past year seeking to capture the 50%-plus gains seen in 2005.
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