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Global markets: Huge relief rally underway this week

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The upswing in markets continues for the 5th consecutive session. The Nifty is up almost 5 percent this week and yesterday was a big day.

The upswing in markets continues for the 5th consecutive session. The Nifty is up almost 5 percent this week and yesterday was a big day. The flows backed this move up, so just yesterday, India saw FIIs net buying USD 720 million in the cash market and USD 460 million in futures market. But this is not just a India phenomenon. Look at what has happened in Korea yesterday, foreigners bought USD 1 billion worth of stock in Korea in the cash & futures markets and this is the highest single day purchases since 2008. The returns have really been quite eye popping!
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