
JM Financial: Oil, not valuations, will bring FIIs back
Foreign investors have pulled about $64 billion from Indian shares in two years, and the brokerage says Brent must fall below $105 before that eases.
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Foreign investors have pulled about $64 billion from Indian shares in two years, and the brokerage says Brent must fall below $105 before that eases.
3 min read
The Nifty Smallcap 100 has gained over 4% in two sessions, led by Ather Energy, but analysts say it still faces key resistance levels.
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The indices recovered more than 1% from the day's lows in morning trade, led by metal and pharma stocks, but analysts warn that crude near $115 a barrel will cap any rally.
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Oil prices, the US Fed's policy meeting, foreign selling, Q2 results and the Nifty's 22,300 support level will decide whether the sell-off deepens.
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