PIF, as the Saudi fund is known, deployed $31.6 billion in 2023, according to research consultancy Global SWF. That was higher than the $20.7 billion it invested the previous year, an increase that contrasts with a wider trend – globally state-owned investors deployed $124.7 billion, about a fifth less than the prior year.
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Bank Nifty has breached the 48,800 level and is trading higher, with expectations of reaching 49,225. Autos, metals, and PSU banks are leading gains, with