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India VIX was down by 3.28% to 12.88 levels from 13.31. Volatility dropped to its multi-month low and has been hovering at lower levels from the last two months.Option data suggests a trading range in between 18,300 and 19,000 zones, while an immediate trading range in between 18,400 and 18,750 zones.

“When the low PE neglected stocks start showing growth for one-two quarters, the market bids them up very aggressively and that is what we are seeing. Chase the growth. If you get growth, value and neglect, that is where the largest money will get made but on the compounding side.”

The latest outflow could be attributed to profit booking amidst the rally in the markets and gold demand in the households for the prevailing wedding season," Priti Rathi Gupta, Founder of LXME, said.While the fund inflow in October was mainly on account of festive season demand as investors might have chosen to buy physical gold.

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At present, the top five discount brokers account for 59.1% of overall NSE active clients, up from 58.9% in October 2022. Zerodha remained the top broker with a 24 bp rise in market share to 18.3%; however, it reported a 0.5% MoM decline in its client count to 66 lakh.

Among Sensex stocks, IndusInd Bank, Bajaj Finance, TCS, HCL Tech, M&M and Infosys were the top gainers, rising around 1.5-2%

In the international market, gold was quoting lower at USD 1,787.80 per ounce while silver was up at USD 23.48 per ounce.

Nifty added 0.6% or 111 points to end at 18,608, while Sensex climbed 402 points or 0.65% and settled at 62,533. Sectorally, public sector banks continued their winning run and added another 4%, while FMCG and Realty packs ended in the red.

Brokerages remain mixed on the issue. A few suggest subscribing to the issue, citing its strong business model and growth prospects, whereas others suggest avoiding it, citing rich valuations and high debt.

Key additions by MFs in November were in HDFC Bank, Axis Bank and Archean Chemical, whereas they trimmed holdings in ICICI Bank, HCL Technologies and Kotak Mahindra Bank.