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In August, over 500 mutual fund schemes favoured top stocks like HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, Reliance, SBI, L&T, Axis Bank, Kotak Mahindra Bank, and Mahindra & Mahindra.
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Indian benchmark indices closed higher, fueled by auto, bank, and pharma stocks, while investors await the Fed's policy decision amid expectations of a rate cut. Corporate actions, including dividends and stock splits, are lined up, and several IPOs are set to hit the market. FII/DII activity, technical factors, rupee movement, and crude oil prices will also influence market direction.
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Spontaneous spending is likely to rise if the 100 limit on contactless cards is scrapped, academics say.
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