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VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “Nifty has turned highly volatile and apprehensive. It might be due to selling by FIIs which touched Rs 5525 crore in the three trading sessions in May so far. But there is nothing unusual about this since FIIs sell when the US bond yields are attractive. Perhaps, the more significant factor might be the apprehensions emanating from the unexpectedly low turnout in the elections, so far. One view is that the definite and smooth victory of the ruling dispensation is a bit uncertain now. The market which has already discounted a BJP/NDA victory is a bit unsure now. Perhaps, this can be the reason for the apprehension in the market and the bulls shedding their aggressive stance.”

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