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Investors may focus on sectors like FMCG and utilities that rely on domestic demand and are less affected by currency fluctuations. Export-driven sectors such as IT and pharmaceuticals, might also offer opportunities as they benefit from rupee depreciation. It may be wise to avoid companies with significant foreign debt and may consider diversifying into other assets.
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I guess one should participate in this bounce back because as I said largecaps are giving good signs right now and if that plays out, then the upside levels which I am watching out for are 23,350 to 23,600.
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Oil prices surged to their highest level in over three months, fueled by concerns that U.S. sanctions on Russia could reduce its oil output. Goldman Sachs indicated that Brent prices could exceed $85 per barrel if Russian production continues to decline.
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News and Media
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