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The Nifty IT index closed 0.22 per cent down at 31052.1.

The signs of inflation coming down, weakness in the dollar index and good physical gold demand continue to support the domestic gold prices," Dilip Parmar, Research Analyst at HDFC Securities said.In the international market, gold was trading higher at USD 1,801.25 per ounce while silver was up at USD 22.73 per ounce.

"Taking into account the emergence of ETFs as an investment product with various advantages such as transparency, diversification, lower cost, etc, it has been decided to allow units of equity exchange traded funds (equity ETFs)... as an eligible security for MTF as well as an eligible collateral under MTF," Sebi said in a circular.

“As the country goes through stages of development, the wealth of the population also increases as does the institutionalisation of domestic capital and India is now at a cusp where we have enough savings channelled into financial services and the capital markets where we are not as reliant on foreign inflows or foreign capital of more developed markets as we have been in the past. ”

The Relative Strength Index of the stock stood at 55.11 on Friday.

Prince Pipes & Fittings, incorporated in the year 1987, is a Small Cap company (having a market cap of Rs 6521.47 Crore) operating in Plastics sector.

While the Street appears convinced that the ongoing phase of the bull run is not going to stop anytime soon, traders chose to take some profits off the table amid a subdued mood in global markets.

A total of 4,203 shares changed hands on the counter till time (IST).

Foreign investors net bought government bonds worth over 37 billion rupees ($455.81 million) in November, with a bulk of the money invested in liquid bonds, data from the Clearing Corp of India Ltd (CCIL) showed.Foreign banks also remained active debt buyers in both the primary and the secondary markets, with a net purchase of over 147 billion rupees in the last 17 trading sessions, CCIL data showed.

“Last week’s breakout in the Nifty gives us a new upside target of 20,185. We have got momentum confirming it and probably the most interesting thing in the Indian market right now is that smallcaps, after underperforming all year, have started to participate and we have seen a breakout in the smallcap index too.”