MARKET EYE-Are Indian equities most vulnerable among BRICs?

Fri Dec 7, 2012 3:09pm IST

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* Has the liquidity-driven outperformance of Indian shares among
BRIC markets this year run its course? Some market participants
argue that the reform optimism-led buying may give way to a
technical correction.
* India's benchmark index rose 26.1 percent in 2012 as of
Thursday's close, outperforming all its peers among the BRIC
nations. 
* For graphic: link.reuters.com/quj54t
* Optimism around reform measures by the Indian government has
been rewarded by foreign portfolio flows of $20.51 billion this
year, but on the flip side, equities have now started looking
overbought to some based on technical analysis indicators,
dealers say.
* India's benchmark index is trading in the
"overbought" territory, with its 14-day relative strength index
above 70 for the sixth day.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
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