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If you look at midcap, it is still 40 percent off its all time high and if you look at smallcaps it is almost 50 60 percent off. Only FIIs had been driving the market, mutual funds and local institutional investors are not getting any new money, retail investors have been decimated, high networth individuals (HNIs) are more or less out of the market. So, if market rally has to sustain then it should get the breadth and the depth, so it is not only visible in the indices of Sensex or Nifty but it has to be visible all across..
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