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Movement of the rupee, Brent crude and foreign institutional investors investment trend would also be looked at by market investors for further direction
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In April, the total net outflow from the Indian capital markets (both equity and debt) stood at Rs 9,435 crore
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Value migration creates massive opportunity for sectors which see value inflow.
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Dish TV's scrip stood out, rallying from Rs 9.27 to Rs 15.89. Lux Industries (up 71.17%), HFCL (up 63.13%) and Venkys (India) (up 51.52%) are the the other stocks that rallied over 50% this month
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This week, both Nifty and Money9 Covid25 touched their record highs of 15,469 and 312.67, respectively
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The movement of the rupee against the dollar and crude oil prices, the movement in global stock markets will dictate trend on the bourses in the near term
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The true picture of damage by the Covid-19 second wave will only be visible in the June quarter results but until then, management commentaries will continue to guide Dalal Street
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Reliance Industries soared 5.85% and was the top gainer on Sensex, followed by M&M (2.13%) while HDFC twins rose around 1.4% each and IndusInd Bank was up 1.2%
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The value of retail holdings in companies listed on NSE increased to 6.9% as of March-end in 2021 from 6.5% during the same period last year
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Brokerage ICICI Securities believes that Nifty may hit 16,400-mark by September