Total reserves have come within touching distance of the record high in mid September at $702 billion, but consistently fell later.
Over 10 mutual funds increased exposure to stocks like Multi Commodity Exchange of India, GE Vernova T&D India and National Aluminium Company in February, with
Nomura has cut its Nifty target by 15% to 24,900, warning of a further 5% downside amid geopolitical tensions, rising oil prices and weakening flows.
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