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Indian markets tumbled on Friday, mirroring global anxieties over the US Federal Reserve's projected slower rate cuts. Heavy selling in financial and IT stocks pushed the Sensex down 1.5% and Nifty 1.52%, as foreign funds flowed out. European markets also declined, while US stocks rebounded slightly after a positive inflation report.
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Foreign Portfolio Investors (FPIs) focused on selling financials and oil & gas stocks in 2024, resulting in significant sectoral outflows. Outlook for 2025 suggests moderate returns, with a focus on banking, pharmaceuticals, and FMCG amid India's slowing economic growth.
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A 4.5 magnitude earthquake struck Afghanistan's Badakhshan region at 6:30 am IST on Sunday, according to the National Centre of Seismology (NCS). The quake, occurring at a depth of 10 kilometers, is one of several to hit the disaster-prone region in recent weeks. The NCS confirmed the earthquake's location and highlighted Afghanistan's vulnerability to such natural events.
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