(India’s Prime Minister Narendra Modi has praised former President Abdul Kalam, who died on Monday, remembering the example set by the childhood newspaper vendor who rose to prominence as driver of India’s nuclear weapon and missile programme before becoming president in 2002. Modi writes about Kalam’s commitment to “freedom, development and strength.” The full opinion piece follows here.)
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The Nifty continued its losing streak, falling 1.03 percent during the week to end at 8,570. The present market behaviour is in stark contrast to what we had witnessed in the last 12 months. Intraday rallies are being sold into and positive news flow is unable to sustain the markets at higher levels.