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Below the Quote on FPI By Milind Muchhala, Executive Director, Julius Baer India

"We have been seeing mixed activity by the FPIs in the recent past, with bouts of buying and selling, a trend which is likely to continue for some more time. Their activity will remain influenced by various factors, including the performance of the global equity markets, the movement of dollar index, incremental geopolitical events, and opportunities in the Indian markets considering slightly elevated valuation levels.

While the US Fed provided mixed commentary in terms of their rate cut path, the recent weak job data, coupled with the benign inflationary environment, will definitely strengthen the case for a rate cut in September. The key thing to watch out for will be the path going ahead in terms of whether there will be more rate cuts during the calendar year or they get pushed out to next year."

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