The market was red all of this week seeing the NSE-ASI dip below 26,000 for the second time this year on the first day of a new month. This defeats the thesis that 26,000 is a floor for this cycle. However, consistent with the tone of the market in the last 6 months, there is ample reason to believe that a retraction will be swift.The NSE-ASI closed at 25,357.84 -3.1% (-2.2% in the previous week). Volume for the week was a cummulative 1.37 billion shares (1.76 billion shares in the previous week).
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