MARC FABER ON INDIAN MARKETS

"I am somewhat surprised that Indian investors are as positive about their market as they are. Inflation is accelerating and will dampen consumption and the stock market is not particularly inexpensive. I would sell rallies and still expect the market to trade down to around 10,000 - 12,000. Developments in the international capital market, which are likely to be negative, will contrary to the belief of Indian investors, also affect the Indian stock market."