Reasons why Indian stocks can head south with oil and gold
Babu Ghanta
Sep. 15, 2006

Indian economy has the biggest embeded bubble in it. There are resons to believe the bubble will burst as it is happening in oil and gold.

Righy now though all are rosy but the party may not last long.

Budget deficit, trade deficit, excessive bubble in real estate and consumer debt are acting to make Indian economy run on this ice.

The Bombay Stock Exchange benchmark, Sensex, spurted to close over 12,000 level on Friday, after a gap of four months on heavy purchases by foreign as well as domestic funds. The Sensex settled higher by 36.57 points at 12,009.59, a closing level last seen on May 17. Though, it touched the psychologically high 12K level during in previous day's trading.

However, experts say, the party is in its last joy ride. The real estate market will drag India down and then all hell will run lose.

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