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Foreign institutional investors (FIIs) have reversed their bullish stance from May and turned net sellers in Indian equities this month. According to exchange data, FIIs sold equities worth Rs 4,892 crore in the cash market through June 13, after investing Rs 19,860 crore in May.
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An Iranian missile struck Bat Yam, Israel, early Sunday, killing six, including two children. Julia Zilbergoltz, a resident, expressed shock after her home was destroyed. Yivgenya Dudka, another victim, lamented the complete destruction of her house. Strikes also hit northern Israel, raising the death toll to thirteen since Friday.
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Despite Friday's recovery attempt, technical charts are painting a cautious picture for Nifty in the coming week. Anand James, Chief Market Strategist at Geojit Investments Limited, believes the recent sell-off isn't over yet and expects the index to test the 24,060 level before any meaningful recovery takes hold.
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