Indian stocks have gained 100% ..that's just for sensex but if you really look at individual stocks specifically in mid cap space stocks have gone up 10-20 times from their march lows. Sometime index doesn't tell complete story.
Read this good notes from ICICI prudential chief investment officer that cautious about Indian stocks and real estate sector .
http://www.businessworld.in/bw/2010_01_05_Indian_Shares_No_Longer_Cheap_...
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