After the marathon of 15 days no one was surprised to see the today’s halt. Today only trigger was expected from Reliance Industry about split or bonus (quite far fetched expectation, of course) and got none except making RIL as first MNC of India. Rupee keep appreciated making the IT pack duller. So there was profit booking everywhere. The Finance Minister was also worried about the speedy rise of the market.
However, FII do not appear to be worried by the Indian politics but appear to be interested to hold and invest more in Indian markets largely in infrastructure , telecom as there is huge potentials are still untapped and banking sector as it is very less involved and less effected to sub-prime exposure.
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