Domestic stocks gave back some gains today, snapping a 3-day winning streak. The party seems to be on pause after the new Modi-led NDA government settled in. Investors are waiting for fresh cues and digesting recent highs. Foreign money is slowly returning to the market, while domestic institutions are taking some profits off the table. Meanwhile, the possibility of a US rate cut is diminishing as the US economy remains strong, which could dampen sentiment if the Federal Reserve does not cut rates as some anticipated.
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