Sectorally, selling was seen in banks, IT, finance, realty, and auto stocks while buying was visible in oil & gas as well as metal stocks. Crucial support for the index is placed at 17000 and further towards 16800 levels, said analysts.
The case involved A Shah, a Singapore tax resident, who declared capital gains of Rs 88.75 lakh from debt mutual funds and Rs 46.91 lakh
The bank attributes the bullish revision to stronger-than-expected central bank demand and mounting recession risks, which have contributed to a surge in gold-backed ETF inflows.
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