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Below the Quote on Market by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

Nifty is in a consolidation range and is likely to remain in this consolidation phase with a mild upward bias in the near-term. The biggest positive for the market is the return of the FIIs and the consequent strength in the largecaps, particularly in banking and IT. FIIs turning buyers have enthused the retail investors who have been on the defensive after the near 10% correction from the September peak. Now retail investors are back in action and are chasing many mid and smallcaps. Mid and Smallcap indices have again turned resilient supported by sustained fund flows in these segments. Valuations in these segments are hard to justify but the resilience of these segments might continue, given the strong fund flows into these segments.

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