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Dear Policyholder,

July 2019 witnessed sharp correction in equity markets with Nifty-50 Index declining 5.7% during the month. There was an expectation of strong measures to boost growth in the economy in the Budget 2019, which did not materialize. While, this is very good from long term perspective, in the short term it has dented investor sentiments. Foreign Portfolio Investors have sold equities worth Rs 11,000 crores in July. Domestic Institutions however, continued to remain big buyers investing Rs 17,900 crores worth of equities during the month.

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