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Would appreciate if you can provide insights as to what criteria are you using to suggest that the Indian market is currently undervalued ? Are there any particular sectors you are focussing upon ?
The manufacturing section seems under intense pressure due to liberalisation and the Chinese onslaught? For the market as a whole, it seems it is going through a phase of consolidation and adjustment to the worldwide economic scenario. A picture is'nt clear yet to me.

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