Indian stock market in bubble territory in 2010

The Indian stock market is expected to continue its rally in 2010 on the back of strong GDP growth, high inflation and loose US monetary policy, raising the possibility of a bubble forming, according to Noble Group.

Prevailing economic conditions, both domestic and global, suggest the Indian stock market is poised to continue to rally in 2010, increasing the risk that a bubble is forming, according to analysts at research-led investment bank Noble Group.
The first factor supporting a stock market rally is strong GDP growth of around 8%. In the last quarter, we saw that the GDP growth was 7.9%, so it's almost there, said Dipankar Mitra, Noble's lead India analyst for economic and country...

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