After the short panic due to escalation in tension between the two Koreas and the subsequent recovery thereafter markets have corrected nearly 10 % from the highs seen earlier this month. Though too early to call a bottom yet good amount of buying emerges around whenever Nifty slides to 5900 levels. This makes us believe that though this corrective phase will take some time to get over yet the downside from the current level is limited. Since international fund managers have made good money from Indian bourses this year and the forecast of growth in corporate profitability remains robust we expect good allocation to the Indian markets from overseas institutions next year.
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