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Market sentiment improved following a strong rally, with Nifty closing at 24,222 and Bank Nifty at 52,208. Experts suggest that as long as Nifty holds above 24,000, it may target 24,300-24,550 after a consolidation phase, while Bank Nifty faces resistance at 52,600, with 52,000 as immediate support.
In October, the benchmark Sensex plummeted over 4,900 points, nearly six percent, prompting mutual funds to capitalize on the market dip. Despite record net inflows of around Rs 41,000 crore, fund managers deployed nearly Rs 89,000 crore, significantly up from Rs 30,000 crore in September, indicating a strategic use of existing cash reserves.
India's demographic dividend, with 67% of its population in the working age, faces challenges as education costs soar, increasing by 11-12% annually. This inflation, coupled with a depreciating rupee, complicates long-term financial planning for families. Experts emphasize the importance of child insurance plans to secure financial futures amidst these uncertainties.
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