October witnessed stability – After a strong recovery in month of July and August of
cumulative 12.5 percent, the Indian markets witnessed profit booking in September and
October months, posting negative returns. More importantly, the FIIs remained net
sellers in October month and MFs continued to remain net buyers. The markets continued to correct in in the first half of October but in the second half it was nearing its all-time high levels post cautious commentary regarding the inflation and the measures to tackle it. Going ahead, we believe that the FIIs will return owing to strong growth outlook compared to other global nations
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