There was a fresh round of selling by European funds in the afternoon today, say dealers, reports CNBC-TV18. There's also lack of conviction to buy among FIIs; the buy:sell ratio is at 1:3, they say. Domestic funds are also not very active at current levels. Selling pressure in midcaps is likely to continue, they say. Dealers expect a short covering recovery in the Nifty before the expiry
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