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Developments related to the ongoing conflict in West Asia and its impact on crude oil prices will continue to rule investors’ sentiment in a holiday-shortened week ahead, analysts said.
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Nifty rose on IT strength but volatility persisted amid crude swings; resistance near 21EMA. Analysts see bullish reversal, with upside potential. Aether Industries and Centum Electronics show breakout-driven buying opportunities.
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Indian markets rose, led by IT, auto, and metal stocks, while banking weakness limited gains. Analysts indicate short-term pullbacks, with global tensions and weak US-European markets keeping investors cautious.
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Foreign investors have pulled out Rs 88,180 crore (about USD 9.6 billion) from Indian equities so far this month, weighed down by escalating tensions in West Asia, a weakening rupee and concerns over the impact of elevated crude oil prices on India’s growth and corporate earnings.
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The combined market valuation of five of the top-10 most-valued firms eroded by Rs 1 lakh crore last week, with HDFC Bank taking the biggest hit.
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